In the face of the impact of the epidemic, revitalizing the economy has become a top priority, and the importance of infrastructure investment is self-evident. The issuance of more than 500 billion yuan of special bond balances is about to start. On September 27, 2022, Liaoning Province will be the first to issue 6.7 billion yuan. According to statistics from China Bond Information Network and local finance departments, as of September 25, 19 places including Guizhou, Jilin, and Shaanxi have announced their government bond issuance plans for September, October and the fourth quarter, among which the total issuance scale of new special bonds reached 323.239 billion yuan.

Zhang Yiqun, deputy director of the Performance Management Committee of the China Society for Fiscal Science, told reporters that in 2022, increasing government investment, actively raising investment funds, and continuing to expand the scale of special bond issuance are the top priorities for stabilizing economic growth. The special bond balance limit can effectively form an increase in bond investment and maintain a sustainable investment scale, which will form a strong support for the subsequent government's increased investment and consolidate the trend of economic recovery.

According to the issuance time, among the above 19 places, Liaoning Province, Shanghai Municipality, and Tianjin City plan to issue new special bonds in September, and other regions plan to issue in October.

According to the government bond issuance plan of Liaoning Province in September, Liaoning Province plans to issue 6.7 billion yuan of new special bonds on September 27, which will be invested in the field of infrastructure and shantytown reform. Its quota comes from the State Council's revitalization of the local special debt limit since 2019, with a total of more than 500 billion yuan, of which 70% is reserved by the local government, and 30% is allocated by the central government as a whole and tilted towards regions with more mature projects. Following this, Tianjin will issue 1.289 billion yuan of new special bonds on September 28.

Chen Yucheng, senior investment consultant of Jufeng Investment Consultants, told reporters that the limit of more than 500 billion yuan of local special bonds will play an important role in driving the expansion of effective investment, stabilizing the macroeconomic market, etc., and promoting the economic recovery in the fourth quarter.

The reporter noticed that recently, the finance departments of many places disclosed the amount of special debt obtained by the local government. For example, on September 23, the Sichuan Provincial Department of Finance announced that it will make full use of the state's policy of issuing special bonds using the special debt balance limit, accelerate the issuance and use of 35.6 billion yuan of new special bonds, and strive to complete the issuance in mid-October. As of the end of August, the 188.2 billion yuan of new special bond funds in Sichuan Province in 2022 have been basically used for 1,896 major projects such as the Chengda-Wan Railway and Xiangjiaba Irrigation District. It is expected to drive more than 500 billion yuan of effective investment.

On the same day, the Fujian Provincial Department of Finance announced that recently, on the basis of the 164 billion yuan new government debt limit set by the Ministry of Finance in Fujian Province in 2022, the Ministry of Finance once again increased the special bond issuance quota of Fujian Province by 35.9 billion yuan to support and promote investment. , to make up for the construction of short-board projects.

According to Chen Yucheng's calculations, the issuance of more than 500 billion yuan of special bonds will provide about 3.8 percentage points of support for the completion of the annual local government fund budget expenditure; according to the calculation of 40% of the investment in infrastructure, it is expected that it will drive the growth rate of infrastructure investment throughout the year. 1.1 percentage points.

According to Xie Logistics, senior investment consultant of Jufeng Investment Consulting, this round of newly issued special bonds will invest more in solid and mature projects to ensure that the funds can be put into use quickly once issued, and promote the project to start construction and form faster. Physical workload. Editor / Xu Shengpeng