Grab the debt before "big limit": 6 provinces on November 30th, nearly 200 billion, creating a history of history

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Grab the debt before "big limit": 6 provinces on November 30th, nearly 200 billion, creating a history of history

2021-11-27 12:02:20 26 ℃

The 21st Century Economic Report Reporter Yang Zhijin Shanghai reported on November 30th, it is the time limit for the Ministry of Finance to send new special debts.

Li Dawei, deputy director of the Ministry of Finance, said on October 22nd, in the Finance Conference, the next Finance will continue to strengthen the guidance of the local, requiring place to continue to develop a major regional development in accordance with the "funds followed by the project" Strategy and the "14th Five-Year Plan" development plan, increase support for key projects, 2021 new special bonds quota as much as possible before the end of November.

Local before November 30, recently. For example, Jiangsu Province issued an expedited document, requiring the issuance of Jiangsu special debt (12-14 period). The bond is expected to tender on November 30, and the scale is proposed to approximately 35 billion.

For another example, in general, the local bonds issued 5 working days before the information disclosure. That is, the debt on November 30, then at least November 23 should disclose the debt information. However, in order to catch the progress, some provincial borrowers were disclosed after November 23. In other words, it is less than 5 working days from the information disclosure to the bond.

According to reporters, there were six provinces issued special debts on November 30, and the bidding time lasted from the afternoon, and the scale of debt all day was close to 200 billion.

In history, the scale of single-day debt on November 30 is at a higher level, second only to October 22, 202 (mainly the local debt in Guangdong, China).

If November 29, November 30th is successfully issued, as of November 30th, this year, the new special debt issue scale is 3.47 trillion, deducting the special debt of small and medium-sized banks in last year, and the actual issue is 33,200. 100 million, completing 96% of the amount issued.

In other words, the local special debt can basically be released at the end of November, but there is still about 30 billion yuan.

The State Council held an executive meeting on November 24 to deploy special bond management of local governments, optimize funding, and strict fund supervision.

The meeting pointed out that in recent years, the Party Central Committee, the State Council deployment, local debt management has achieved positive results, and the implicit debt decreased, and the government's overall leveraged rate has dropped. Since the beginning of this year, according to the new amount approved by the National People's Congress, the use of local government special bonds, and strongly support key projects and major people's livelihood projects. The meeting requests, in the face of new economic downtime, to strengthen cross-cycle regulation, continue to do a good job in local government debt management, prevent the risk of resolving the risk, and coordinate the connection of special debt management policies in this year, and better play special debt funds. Drive the role of social funds, expand effective investment, to expand domestic demand and promote consumption.

First, speed up the remaining amount of this year, do a good job in funding and expenditure management, and strive to form more physical workload in early next year. In other words, the remaining amount will continue to be issued after November.

The State will also put forward that overtielding the actual and regional coordinated development requirements, reasonably proposing the special debt and distribution plan next year, strengthening the construction of key areas, not "pepper surface", and research according to law, according to law, in advance.

According to estimates, 2022 local debt probably as follows:

1. The new special debt size is expected to be stable, slightly rising, and it is expected to be 3.65 trillion -3.75 trillion;

2. The new general debt scale has declined slightly, and 0.72 trillion -0.78 trillion. Considering that the new special debt scale is slightly slightly slightly promoted, the new local debt scale is expected to be around 4.4 trillion, which is generally flat this year.

3. The scale of refinance bonds is expected to 2.2 trillion. (See: Preview 2022: How much is the special debt, how much is the number of local bonds in the year?