On December 16, the State Council Information Office held a regular policy briefing by the State Council to introduce the strengthening and improvement of local government debt management.
According to Xu Hongcai, Vice Minister of Finance, the Ministry of Finance will further strengthen the management and supervision of the use of special bond funds in accordance with the decisions and arrangements of the Party Central Committee and the State Council.
The Ministry of Finance, in conjunction with the Development and Reform Commission, has strengthened the management of the negative list of special bond investment fields, and it is strictly prohibited to use special bonds in various buildings, image projects, performance projects, and various non-public welfare capital expenditure projects nationwide. In high-risk areas, areas with relatively high debt risk indicators, it is clear that special bonds must not be used for non-essential construction projects.
(Dong Zeyu)
Editor in charge: [Lu Yan]