Local arranged special debt over progress, and it is strictly forbidden to set up a third -party fund account to "replace the branch"

The 21st Century Business Herald reporter Yang Zhijin reported that the use of special debt this year has attracted much attention. Under the assessment of the expenditure progress, there are places to achieve the progress of the special debt through various violations of regulations. The recent phenomenon has also attracted attention from relevant departments.

The reporter learned that a notice issued a recent province requested the situation of whether there was a surrender of the region to allocate special bond funds. If so, it is necessary to provide the scale of special bond funds that are allocated by the overrouts at the end of July and analyze the possible risks.

The province reiterates that the management of special debt funds must be strengthened, and the project funds are paid strictly in accordance with the contract and the project price settlement procedure. Increase the progress of funds.

Super progress allocation of special debt funds origin

Super progress allocation of bond funds is a measure for local response expenditure progress assessments. Since this year, the regulatory authorities have established a special bond expenditure progress to report the early warning system, and pay attention to the three indicators accordingly: first, the issuance progress, which is equal to the amount of bond issuance/the amount of bonds issued; The amount; the third is the actual expenditure progress, which is equal to the actual expenditure amount of the project unit/the amount of the state treasury allocation. Among them, the latter is the most important indicator.

According to the requirements of the State Council, the special debt in 2022 strives to be basically used before the end of August, that is, the actual expenditure progress reached about 100%. In practice, the higher -level government evaluates the use of special debt in the lower level government every other time, and the local or departments where the expenditure progress is undergoing a certain penalty.

For example, a province passes the combination of the "main+auxiliary" indicators for assessment. The main indicator is the overall expenditure progress of the region (department). The proportion of the standard projects is set up from high to low. The above two dimensions are combined with different early warning interval.

The province also requires the implementation of "third -level prevention and control" measures, the suspension of special bond issuance in the first -level early warning range, the person in charge of the interview between the second -level warning range, the number of special bond issuance in the third -level early warning range, the pressure The main responsibility of the real city and county government and provincial authorities.

In order to complete the expenditure progress indicators, some places have been treated. The "Strengthening the Performance Management of Districts and County in the Shandong Regulatory Bureau of the Ministry of Finance on July 7th, accurate and sustainable opening up the policy of" last mile ", stating that the progress of bond funds in some districts and counties is not compliant. Under the pressure of the project unit, under the pressure of the project, the actual progress of the project is ignored, and the payment is not paid in strict accordance with the contract. Instead, the "curve to save the country" by signing the prepaid funds such as the supplementary agreement is signed. The role of special bond funds in stimulating consumption and leverage the economy.

The recent audit reports have also disclosed this issue. The Shandong Provincial Audit Office disclosed that some bond funds have the problem of squeezing misappropriation, illegal borrowing, and super -progress payment project. The Sichuan Provincial Audit Office also disclosed that the number of new bond funds in cities and counties has 3.387 billion yuan for more than one year, and some cities and counties have expanded the scope of use, and overcover bond funds, etc. 1.606 billion yuan.

According to analysis, the current fixed asset investment accounting statistics system has transformed from the "image progress method" to the "financial expenditure method". When the project unit allocates the special debt funds over the progress, it is included in the infrastructure investment scale, but the corresponding physical work The amount has not yet formed.

What is the progress of special debt expenditure?

According to the requirements of the State Council, the 3.45 trillion yuan special bonds issued this year will be basically issued before the end of June, and strive to use it basically before the end of August. Judging from the issuance data, the issuance of 3.45 trillion special debt quotas has been basically completed at the end of June.

Song Qichao, the first inspector of the Budget Department of the Ministry of Finance and the director of the Government Debt Research and Evaluation Center, said at the press conference of the Fiscal Revenue and Expenses in the first half of 2022 in the first half of 2022 that in accordance with the requirements of the State Council's solid economic package policy and measures, finance The ministry promptly guide the local adjustment plan to speed up the issuance rhythm. As of the end of June, there were 3.41 trillion yuan of new special bonds in various places. The amount of new special bonds used for project construction in 2022 has basically been issued, which is greatly advanced from the previous year, which fully reflects the requirements of active fiscal policies.

He also introduced that new special bonds issued from January to June support more than 23,800 projects, of which about 10,800 projects under construction and about 13,000 new projects. All localities are required to use special bond funds to be used to include key projects in the national "Fourteenth Five -Year Plan" and key projects for the development strategies of major regional development strategies.

"In the second half of the year, our key work is to continue to do a good job of local work guidance and urge all places to do a good job of issuance of special bond issuance. Form the physical workload, "Song Qichao said.

As for the progress and use progress, the official data has not been announced, but the data in some areas can be glimpsed.

According to data disclosed by the Guangdong Provincial Department of Finance, as of the end of June, all special bonds in Guangdong Province had been issued in 2022, and the actual expenditure progress has been nearly 70 %, which has played an important role in driving effective investment.

According to data from a province in the East obtained by the reporter, as of the end of July, the actual expenditure of the project units in the province was about 120 billion yuan, and the expenditure progress was 77%. Compared with the end of June, it increased by 35 percentage points, showing that the expenditure progress accelerated significantly in June. Among them, the new special debt amount issued in advance, the actual expenditure of the project unit was 70 billion yuan, and the expenditure progress was 90%; the second batch of new special debt quotas issued in mid -June was issued, and the actual expenditure of the project unit was more than 55 billion yuan, expenditure expenditure, expenditure expenditure, expenditure, and expenditure expenditure. The progress is 66%. In contrast, because the second batch of issuance time is relatively late and the expenditure progress is relatively slow, the province's expenditure in July has increased sharply. Looking at the city, the four cities in the province are slower than the average level, but the slowest expenditure progress has reached 78%.

Data from a province obtained by the reporter showed that as of the end of July, the province had allocated more than 60 billion yuan in bond funds, accounting for 91%of the amount of the amount (the last batch of special bonds of the province in 2022 was issued at the end of June). In terms of expenditure progress, the actual expenditure amount of the project unit in the province at the end of July was about 37 billion, accounting for about 60 % of the amount of the number.

Judging from the cases of the above provinces, the expenditure progress between provinces is fast and slow, and the average level nationwide at the end of July may be between 60%-80%.

Zhou Yue, chief solid income analyst of Zhongtai Securities, said that the progress of the use of special debt funds is accelerating. On the one hand, the statistical of investment is conducive to pushing the growth rate of infrastructure investment in the first half of the year. On the other hand, there may be project capital or supporting funds. , Significantly lagging on the physical workload. Since the Ministry of Finance has established a special bond expenditure progress to notify the early warning system this year, many regions have directly linked the progress of special bond funds with the department assessment. Really form a physical workload.

(Coordinating: Ma Chunyuan)

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