Our reporter Bao Xing’an
On March 28, the General Office of the National Development and Reform Commission issued the “Notice on Further Doing a Good Job in the Integration of Social Capital Investment and Financing Cooperation” (hereinafter referred to as the “Notice”), proposing to promote more eligible stock projects to issue infrastructure REITs. .
The relevant person in charge of the National Development and Reform Commission said that strengthening the connection between investment and financing cooperation is conducive to promoting the construction of key projects and rationally expanding effective investment; it is conducive to implementing the reform requirements of “delegating power, delegating power and improving services”, accelerating the transformation of government functions, and optimizing the business environment; it is conducive to Build bridges, build platforms, and expand channels for projects and funds to promote projects as soon as possible. All localities should establish and improve the cooperation mechanism of social capital investment and financing, stimulate the vitality of various types of social capital, and better play the key role of investment.
The “Notice” proposes to intensify efforts to revitalize existing assets. In the process of investment and financing cooperation, it is necessary to adhere to both new construction and existing projects, actively select existing projects suitable for revitalization, and revitalize them through property rights transactions, organic combination of existing and renovation and expansion, and mining of idle and inefficient assets. capital participation. Promote more eligible existing projects to issue infrastructure REITs, open up investment exit channels, and increase the enthusiasm of enterprises to participate in infrastructure construction. Give priority to supporting existing projects with sustainable profitability to carry out public-private partnership (PPP), give full play to the professional advantages of social capital, and improve project operation efficiency. For new projects that revitalize the stock and recover capital investment, it is necessary to strengthen the connection of investment and financing cooperation, encourage financial institutions to increase support, promote the acceleration of the preliminary work of the project, and promote the construction of the project as soon as possible.
At the same time, the “Notice” stated that it will promote innovative investment and financing models. In the process of carrying out investment and financing cooperation and docking, all localities should combine local conditions, give full play to their initiative, carry out innovative work under the premise of compliance with laws and regulations, and actively explore new investment and financing models. Support enterprises to innovate investment methods and methods, encourage financial and investment institutions to innovate product and service models, and improve the quality and efficiency of financial services for the real economy. It is necessary to actively excavate and discover outstanding cases in the region in terms of innovative investment and financing models and the promotion of effective investment, summarize and refine them, and form typical experiences that can be replicated and promoted, and publicize and promote them in various ways. It is necessary to earnestly learn from the effective practices of innovative investment and financing models in advanced regions, improve and perfect the investment and financing policies in the region, create a favorable investment environment, and promote effective investment.
In addition, the “Notice” emphasizes the need to effectively prevent various risks. In the process of investment and financing cooperation, it is necessary to effectively strengthen project control to ensure that the project meets the requirements of the “14th Five-Year Plan”, “Outline” of the “14th Five-Year Plan”, major national strategies, industrial policies, etc., and handle fixed asset investment management procedures in compliance with laws and regulations. Key projects with a clear investment return mechanism and a reasonable level of income should be selected for promotion, and resolutely avoid rushing on. During the implementation of the project, we must do our best and do our best to strengthen the construction of the government’s credit performance, not over-promise, and effectively prevent new hidden debts of local governments.
In the next step, the National Development and Reform Commission will continue to improve the social capital investment and financing cooperation docking mechanism, focus on key areas, actively carry out policy exchanges, information sharing, project docking, model exploration, etc., to help the implementation of demonstrative and influential projects. , vigorously promote good local experience and good practices, continuously strengthen the innovation of investment and financing models, fully mobilize the enthusiasm of various social capitals, and rationally expand effective investment.
(Editor: Wen Jing)