CCTV News:At the press conference of the State Council joint defense and control mechanism on April 3, Xu Hongcai, Vice Minister of Finance, said that on March 31, the executive meeting of the State Council decided to release a certain scale of local government special bonds in advance according to procedures on the basis of doing a good job in the issuance and use of special bonds issued in the previous period. This arrangement is determined by comprehensive factors such as the 2020 budget arrangement, the local actual project construction needs and the progress of the issuance and use of special bonds. The Ministry of Finance will pay close attention to the relevant procedures and issue them in the near future.
Xu Hongcai introduced that the capital investment will continue to focus on the construction of major infrastructure projects determined by the the State Council executive meeting, mainly including transportation infrastructure, energy projects, agriculture, forestry and water conservancy, eco-environmental protection projects, people’s livelihood services, cold chain logistics facilities, and municipal and industrial park infrastructure. Seven major areas; At the same time, combined with epidemic prevention and control and changes in investment demand, the major national strategic projects will be listed separately and supported; Increase the transformation of old urban communities, and allow local governments to invest in municipal facilities such as emergency medical treatment, public health, vocational education, and urban heating and gas supply. Accelerate the construction of new infrastructures such as 5G networks, data centers, artificial intelligence, logistics and Internet of Things. In terms of quota allocation, we should adhere to the principle of "funds follow projects" and give preference to areas with many key projects and low risk levels. At the same time, for the new special bonds this year, the proportion of capital used for qualified major projects will be appropriately increased, which will further drive social capital to increase investment.