Finance Minister Liu Kun: Do a good job in low-risk areas without hidden debt pilots

Home > Finance

Finance Minister Liu Kun: Do a good job in low-risk areas without hidden debt pilots

2022-01-21 18:04:45 48 ℃

The 21st Century Economic Report Reporter Yang Zhijin Shanghai reported on January 21st, the "China Finance" issue of the Ministry of Finance of the Ministry of Finance of the Ministry of Finance in the National Financial Work Conference. When talking about work in 2022, Liu Kun said that in accordance with the established deployment, we must do a good hidden debt pilot in the low-risk area.

Liu Yu, chief access analyst analyst, said that the impact of ridden debt and zero-provincial capital is reflected in two aspects: on the one hand, the hidden debt clear zero is a certain urban investment in the region's hidden debt. . On the other hand, the implicit debt clearance means that the city will no longer contain the implicit debt, the interest-like debt of the city investment is the business debt, the city's debt and local government credit will be accelerated to accelerate the marketing market transformation. .

Do a good job in the low-risk area without hidden debt pilots

During the 2021st work, Liu Kun said that it is unremitted to prevent the definition of local government debt risks to ensure that financial absolute safety is unremitting. A series of regulatory systems, curb increment, and resolve the amount. At the same time in recent years, the riscrical risk of risks is steadily sue, and the local government debt disposal work has achieved positive results. In general, my country's fiscal operation is smooth and healthy, and the financial sustainability is enhanced.

Liu Kun also said that in 2022, Liu Kun also continued to prevent the risk of resolving local governments. This work needs to be insisted for a long time and must not relax. For the determination of chemical debt, new implicit debt should be seriously accountable, and improve the long-term mechanism of preventing implicit implicit debt risks. It is necessary to strengthen the department collaborative supervision, strengthen budget constraints and government investment project management. It is necessary to deploy according to the established deployment, and do a good hidden debt pilot in the low-risk area.

Reflicit debt and statutory government debt are relatively, which means that local governments directly or commit to financial funds repayment and illegal guarantee. The statutory government debt refers to the debt of the government to repay responsibility, incorporating the financial budget management, and thus "dominant."

In August 2018, the regulatory authorities have completed the statistics on implicit debt. For the processing of the implicit debt, the supervision is proposed two major directions: on the one hand, resolutely contain increments, and on the other hand, actively resolve the stock. Many places have announced implicit debt resolution programs, mostly demanded that the implicit debt is completed in 5-10 years. In other words, the national level needs to realize the implicit debt clearance in 2028, and the whole country has no hidden debt pilots will be advanced.

The "Standardment of the 20021 Municipal Budget Adjustment Plan (Draft)" (Budget Adjustment Plan) "(Budget Adjustment Plan Description) was disclosed in Shanghai, the 20021 Municipal Budget Adjustment Program (Draft), in accordance with the Party Central Committee, the State Council on the prevention of resolution local government Decision deployment, Beijing, Shanghai and Guangdong Province included the first batch of pilot provinces and cities "all-in-lawless debt" in the country, launching pilot work.

On January 20 this year, Guangdong Province announced that in 2021, the new round of budget management system reform was first carried out in the province's bannerless debt pilot, and "cleared" goals were implemented as scheduled.

In addition, the Shaanxi Hanzhong government website issued a notice on December 27 last year, in order to implement the party Central Committee, the State Council's decision-making deployment, high quality completed the mission of the city's implicit debt, and promoted Local government legal debt and implicit debt consolidation supervision Expert class.

Again, on December 21 last year, the State of Dingbian County, Yulin City, Shaanxi Province, held the executive meeting of the county government. The meeting heard the county finance bureau on the investigation of the county implicit debt resolution risk investigation, and studied the establishment of a fixed-edge county government implicit debt. " Clear "pilot works.

Liu Yu said that if the future pilot range is expanded, it may still be expanded along two main lines. The first is similar to Guangdong, Shanghai's strong region, has sufficient financial resources to resolve implicit debts in a short time. The other is a small area of ​​hidden debts, such as Hanzhong City, Shaanxi, Dingbian County, Yulin City, Shaanxi Province.

Rationalize special debt size

Liu Kun said, (must) arrange local government special bonds to ensure key project construction. According to the principle of maintaining the basic stability of the government's overall leverage, the size of local government special bonds is determined. Optimize bonds in the direction of use, not to scatter "pepper surface", focus on the follow-up financing of the project. In accordance with the principle of "funds followed by the project", we have made a deep-processed project reserve, reasonably speed up the progress, and ensure that the bond funds have formed physical work as soon as possible, and better play the pulling role of investment.

Special debt was originally released in 2015, the amount is 100 billion. In 2016, in 2017, its issuance quota has expanded to 400 billion, 800 billion, the first day of 2018 exceeded 1 trillion, and it expanded to 2.15 trillion in 2019. The 2020 volume is 3.75 trillion, a new high, with a 2021 quota of 3.65 trillion.

The 21st Century Financial Research Institute has previously proposed that the current local government debt rate is close to the warning line, which restricts special debt expansion, but steady growth requires special debt expansion. In combination, the 2022 special debt is expected to remain stable, slightly rising, and it is expected to be 3.65 trillion to 3.75 trillion. (See: Preview 2022: How much is the special debt, how much is the number of local bonds in the year?

Xu Hongcai, deputy director of the Ministry of Finance, said on December 16, last year, in accordance with the requirements of the Standing Committee of the Central Economic Work Conference and the State Council, the Standing Committee of the National People's Congress has agreed, the recent Ministry of Finance has issued newly increased in advance of 2022. Special debt limit of 1.46 trillion yuan. As for the rhythm, Xu Hongci said that the 2022 special bond issuance should grasp three words: early, accurate, fast. First, prepare for work to be "early"; the second is to "quasi" issued a time; third is the use of funds to "fast". Considering that the stable growth in the first quarter of 2022 is large, it is required to release early in the first quarter of 2022 and used early.

On January 7th, Henan Province released the "2022 Henan Provincial Government Special Bond (1 to Nine") Information Disclosure Documents. This means that this year's local debt issuance is open.

Liu Kun said that the financial department of all localities should strengthen the development and reform, the industry authorities cooperate with cooperation, combing project funding needs, improve project reserves, and work hard to build a batch of construction, a batch of reserves, and pull effective investment . All special bond projects should be fully covered by comprehensive establishment of expenditure schedules. Strict implementation of special bonds and settlements and illegal use special bond penalties, and suspend the use of the disguised, the issuance of use, recovery of idle funds, etc., to ensure that the funds shall be used according to law.