Infrastructure investment in special local bonds is expected to accelerate in 2020

Sichuan and henan provinces became the first to issue special bonds in 2020 when they went public yesterday. In addition, a number of provinces and cities, including yunnan and zhejiang, also announced plans to issue new special bonds in January. Judging from the provinces that have already disclosed the information of new special bond issuance, according to incomplete statistics, the accumulative scale will reach more than 200 billion yuan, accounting for more than 20% of the quota issued in advance.

With the approval of the state council, the ministry of finance in November issued a partial new special debt ceiling of 1 trillion yuan for 2020 ahead of schedule.

This year, local governments issued special bonds nearly 20 days earlier than last year. According to public information, sichuan province issued 24 special bonds totaling 35.671 billion yuan on January 2, and henan province will issue 12 special bonds totaling 51.9 billion yuan on the same day. The bonds issued by both provinces are newly issued bonds, with a one-day issuance of 87.571 billion yuan.

The state council had previously made clear that special bonds issued ahead of schedule this year could not be invested in land reserve and real estate-related areas.

According to the previous requirements of the ministry of finance, local governments should implement the quota of special bonds to specific projects as soon as possible, issue them early and use them early, so as to ensure effective use at the beginning of this year. Therefore, since the fourth quarter of last year, a wave of major projects across the country has been launched.

& other; At the end of last year, the NDRC approved a large number of high-investment infrastructure projects such as high-speed rail and urban subways. Much starker choices-and graver consequences-in & rsquo; At the end of the year, part of the large-scale planning is being implemented one by one. On the whole, in order to complete the phased task targets of infrastructure projects, it is expected that the infrastructure construction work will make overall efforts in the first quarter of this year, and the investment growth rate will be higher than the previous quarter. Throughout the &; Tang chuan, research director of 360 financial PPP research center, told Shanghai news.

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