Xinhua News Agency, Beijing, August 29th Question: Policy-based development financial instruments have invested 300 billion yuan to support projects in key areas of infrastructure
Xinhua News Agency reporters Zhang Qianqian and Hou Xuejing
After the State Council executive meeting on June 29 put forward for the first time “measures to determine policy-based and developmental financial instruments to support major project construction”, within 2 months, through the CDB Infrastructure Investment Fund established by the China Development Bank and the Agricultural Development Bank of China The established Agricultural Development Infrastructure Fund and policy development financial instruments have invested 300 billion yuan.
At present, the CDB Infrastructure Investment Fund has signed 422 projects with a contract value of 210 billion yuan, and has invested 210 billion yuan; the Agricultural Development Infrastructure Fund has invested 90 billion yuan. What projects did the funds go to? How to support project construction?
Funds are invested in key infrastructure projects that can start as soon as possible
From the perspective of capital investment, policy-based development financial instruments are mainly used in the construction of network-based infrastructure such as transportation, energy, and water conservancy, infrastructure construction in information, technology, logistics and other industrial upgrading, urban infrastructure construction, agricultural and rural infrastructure construction, National security infrastructure construction, major scientific and technological innovation, vocational education and other fields, as well as other projects that can be invested by local government special bonds.
Luo Guosan, director of the Fixed Assets Investment Department of the National Development and Reform Commission, introduced at the National Development and Reform Commission’s August press conference that the National Development and Reform Commission, together with relevant central departments, central enterprises and various localities, has quickly sorted out a list of alternative projects. Recommend a batch of ideas, recommend it to the China Development Bank and the Agricultural Development Bank of China.
“After obtaining the recommended projects, we will screen them, follow the principles of marketization, make independent decision-making and independent review in accordance with laws and regulations, and carry out project docking investment.” Zhang Hui, vice president of China Development Bank, said that investment projects must have strong social In order to achieve economic benefits, it must have certain economic feasibility. China Development Bank will give priority to supporting projects in key areas of infrastructure that are within the “14th Five-Year Plan”, have mature preliminary work, and can start construction as soon as possible in the third quarter. Play a role as soon as possible, resulting in more physical workload.
On August 28, the Pinglu Canal project, which was supported by the CDB Infrastructure Investment Fund with a financial support of 7.273 billion yuan, officially started. After the project is completed, the goods from the southwest region will go to sea via the Pinglu Canal, which will shorten the voyage to the sea by more than 560 kilometers compared with going to the sea via Guangzhou.
On August 10, the Hubei Branch of the Agricultural Development Bank invested 62.7 million yuan in the province’s first agricultural development infrastructure fund to support the construction of the Jingzhou Port Cheyanghe Railway Special Line Project. The person in charge of the relevant department of the Hubei Branch of the Agricultural Development Bank said that in order to carry out the fund business quickly and effectively, the bank specially set up a leading group for fund work to comprehensively sort out, accurately screen, select the backbone of the business, and cooperate with the Provincial Development and Reform Commission to quickly form a list of alternative projects and promote fund projects. Landed in E.
Alleviate the constraints on project construction due to the difficulty of getting project capital in place
How to support the project construction with the funds of the policy development financial instruments is one of the issues concerned by the society. Zhang Hui introduced that the CDB Infrastructure Investment Fund is fully funded and established by the China Development Bank. It raises funds through the issuance of financial bonds and provides no more than 50% of the project capital for major projects. The other 50% is composed of project owners, social capital and other parties.
In the process of promoting infrastructure construction, problems such as difficulty in obtaining project capital are important factors restricting project construction and loan issuance.
In the Nanxun-Tongxiang section of the Su-Taiwan Expressway and the Tongxiang-Deqing Link (Phase II) project with a total investment of 18.01 billion yuan, the project capital accounts for 35%, or about 6.3 billion yuan. “Originally, this part of the funds could only be raised by local state-owned assets. After receiving 1.8 billion yuan of financial support from the CDB Infrastructure Investment Fund, the financial pressure in the early stage of the project has been greatly eased, and the remaining 4.5 billion yuan of capital has also been financed. The construction will be fully started this month,” said Li Feng, chairman of Tongxiang Investment Group.
“By using infrastructure investment funds, we can give full play to the leading and leading role of development finance, expand the source of project capital, attract social capital to participate, achieve synergy, and promote the implementation of major projects as soon as possible with early results.” Zhang Hui said.
Attract a number of commercial banks to provide supporting financing support
It is understood that at present, a number of commercial banks have implemented supporting financing for projects supported by policy development financial instruments.
China Construction Bank said on August 11 that it had provided supporting financing credit for Kezhu Expressway, and issued the first supporting loan of 70 million yuan; ICBC said on August 12 that it had completed loan approval for 8 projects with an amount of nearly 37 billion yuan. The total amount of supporting financing has reached more than 2.6 billion yuan; China Everbright Bank has issued the first supporting loan of 3.6 million yuan for the wharf project of Chizhou Port Wusha Port Area on August 18, becoming the first related supporting financing of the joint-stock bank. Approved nearly 8 billion yuan of credit for 7 projects…
The executive meeting of the State Council held on August 24 proposed to increase the quota of more than 300 billion yuan on the basis of the 300 billion yuan policy-based development financial instruments that have fallen into the project.
Experts believe that the use of policy-based development financial tools to supplement the capital of projects in key areas of infrastructure is conducive to the formation of precise and effective investment, help stabilize the economic market, and achieve the comprehensive effect of expanding effective investment, driving employment, and promoting consumption.
Luo Guosan has previously stated that in the third quarter, accelerating the construction and implementation of policy-based development financial instrument projects will play an important role in supporting investment growth in the next step.
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