The National Development and Reform Commission (NDRC) announced on February 7th that the 1 trillion yuan additional government bond issuance project for 2023 has been successfully completed. The NDRC revealed that the third batch of additional government bond issuance projects in 2023 includes over 2,800 projects, with nearly 200 billion yuan in government bond funds allocated. These projects primarily focus on post-disaster recovery and reconstruction, as well as the enhancement of prevention and control measures in North China, particularly in the Beijing-Tianjin-Hebei region.
The projects also aim to improve disaster reduction capabilities, enhance natural disaster emergency response, and construct key natural disaster prevention and control systems. Additionally, there is a specific focus on post-disaster recovery and reconstruction in Gansu and Qinghai.
With the release of the third batch of projects, the entire 1 trillion yuan additional government bond issuance for 2023 has been fully allocated. The NDRC also highlighted that the Sixth Meeting of the Standing Committee of the 14th National People’s Congress approved the resolution for the issuance of an additional 10,000 treasury bonds in the fourth quarter of 2023.
All the additional government bonds issued will be allocated to local governments through transfer payments, with 500 billion yuan earmarked for 2023 and the remaining 500 billion yuan carried over to 2024. The focus will be on supporting post-disaster recovery and reconstruction efforts and strengthening disaster prevention, reduction, and relief measures to improve the country’s resilience against natural disasters.
The source of this article is the Securities Times, authored by Qin Yanling. It is essential to note that the publication of this content by Oriental Fortune is for informational purposes only and does not constitute investment advice. Readers are advised to use their own discretion when making investment decisions.