Another good policy on "Government and Social Capital Partnership (PPP) Project" promulgated by the General Office of the State Council
In order to implement the decision-making and deployment of the CPC Central Committee and the State Council, deepen the structural reform of the supply side, and further enhance the supporting role of infrastructure in promoting coordinated urban-rural and regional development and improving people's livelihood, the General Office of the State Council recently issued the Guiding Opinions on Maintaining the Strength of Shortcomings in the Field of Infrastructure. Among them, the Guiding Opinion clearly states that "follow-up financing should be encouraged through market-oriented ways such as issuing corporate credit bonds, converting to compliance by the government and social capital cooperation (PPP)." "Promote government and social capital cooperation (PPP) projects in a standardized and orderly manner. Local governments should be encouraged to adopt government and social capital cooperation (PPP) to leverage social capital, especially private investment in major projects to compensate for shortcomings. See the original for details.
Guiding Opinions of the General Office of the State Council on Maintaining the Strength of Supplementary Boards in the Field of Infrastructure
2018-10-31
State Office Fair No. 101 [2018]
People's governments of provinces, autonomous regions and municipalities directly under the Central Government, ministries and commissions of the State Council and directly affiliated institutions:
It is a key task to deepen the structural reform of supply side. In recent years, China's fixed assets investment structure has been continuously optimized, which provides a strong support for strengthening the economic development momentum, filling the shortage of infrastructure, promoting employment and improving people's livelihood. However, the overall investment growth rate has slowed down since this year, especially in infrastructure investment, which has fallen back a lot. There are large investment gaps in some areas and projects. It is urgent to focus on the shortcomings in infrastructure, maintain effective investment, promote domestic demand expansion and structural adjustment, enhance medium and long-term supply capacity, and form a mutually reinforcing supply-demand partnership. Entering a virtuous circle ensures that the economy operates within a reasonable range. In order to implement the decision-making and deployment of the Party Central Committee and the State Council, deepen the structural reform of the supply side, and further enhance the supporting role of infrastructure in promoting the coordinated development of urban and rural areas and regions, and improving people's livelihood, the State Council has agreed to make the following suggestions on how to maintain the shortcomings in the field of infrastructure.
I. Overall requirements
(1) Guiding ideology.
Guided by Xi Jinping's socialist ideology with Chinese characteristics in the new era, we should fully implement the spirit of the Nineteenth Congress of the CPC and the Second and Third Plenary Sessions of the Nineteenth Central Committee of the CPC, adhere to the general tone of striving for progress steadily, adhere to the supply-side structural reform as the main line, and adhere to neither excessive nor excessive compliance with the goal of building a well-off society in an all-round way and The principle of investment and prevention of ups and downs is also indispensable for investment. We should focus on key areas and weak links, maintain the strength of making up for shortcomings in the field of infrastructure, further improve infrastructure and public services, improve the quality of infrastructure supply, better play the key role of effective investment in optimizing the supply structure, and maintain the economy. Steady and healthy development.
(2) Basic principles.
—— Focus on the board. Supporting the strategy of "one belt along the way", coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River economic belt, and the construction of the Great Bay area of Guangdong, Hongkong and Macau, and so on, we must focus on improving the precision poverty alleviation and pollution control, and strive to make up railways, highways, waterways, airports, water conservancy, energy, agriculture, rural areas, environmental protection, public services, and urban and rural foundations. Facilities, shantytowns and other areas of transformation shortcomings, accelerate the major projects that have been incorporated into the planning.
—— Work together. Give full play to the decisive role of market allocation of resources, actively encourage private capital to participate in the construction of complementary board projects, and mobilize the enthusiasm and creativity of various market players. Better play the role of the government, strengthen the reserve of major projects in the supplementary board, accelerate the progress of project audit, actively play the role of government investment guidance, and create a good investment environment for market participants.
—— Strategies should be classified. We will intensify the coordination and dispatch of reserve projects, accelerate the early stage work, and promote the early start of construction projects. On the premise of compliance with the law and regulations, we should guarantee the reasonable fund demand of the construction projects, promote the smooth implementation of the construction projects, ensure the quality and safety of the projects, build and bring benefits into play as soon as possible, and avoid the formation of "half-pull" projects.
—— Prevent risks. We should persist in doing our best and according to local financial capacity and local government investment capacity, strictly examine and verify project construction conditions, rationally arrange project construction, and resolutely avoid blind investment and duplicate construction. Regulate local government debt financing, control the financial "gates" of new project financing, and firmly adhere to the bottom line of no systemic risk.
II. Key tasks
(1) Fighting against poverty and tackling key areas. We will further promote the project of poverty alleviation and relocation by changing land, vigorously implement work-for-relief, and strengthen infrastructure and basic public service facilities in poverty-stricken areas, especially in the "three districts, three states" and other deep poverty-stricken areas. We will vigorously support the acceleration of development in old revolutionary areas, ethnic minority areas, border areas and areas with exhausted resources and declining industries. (The Development and Reform Commission and the Poverty Alleviation Office take the lead according to their respective responsibilities)
(2) Railway field. Focusing on the central and Western regions, we will accelerate the "eight vertical and eight horizontal" main corridor project of high-speed railway, expand regional railway links and further improve the railway backbone network. We will accelerate the construction of a number of strategic and landmark major railway projects. We will promote the planning and construction of inter-city railways in Beijing, Tianjin, Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao. Speed up the construction of territorial exploitative railways. A number of Jishugang Railway and Special Railway Line Construction and Hub Renovation Projects will be implemented. (The Development and Reform Commission and China Railway Corporation take the lead, while the Ministry of Transportation and Railway Administration are responsible for the division of responsibilities)
(3) Highway and waterway transportation. We will accelerate the launching of a number of national expressway network projects and the local expressway projects that will play an important role in supporting the "one belt and one road" construction, the coordinated development of Beijing, Tianjin and Hebei, the development of the Yangtze River economic belt, and the construction of Guangdong, Hongkong and Macau. We will accelerate the preliminary work of the new waterway of the Three Gorges Project and the Gezhouba Shipping and Capacity Expansion Project, speed up the launching of a number of waterway regulation projects on the main lines of the Yangtze River and the Beijing-Hangzhou Canal, and synchronously promote the implementation of a number of branch waterway regulation projects. (Ministry of Transportation and Ministry of Water Resources are responsible for the division of responsibilities)
(4) Airport field. We will accelerate the construction of Daxing International Airport in Beijing, and focus on the early stage work of a number of new, relocated and expanded international hub airports and regional airports in the central and Western regions. We will strive to start construction as soon as possible, enhance the competitiveness of international hub airports and expand the air transport coverage in the central and Western regions. (Civil Aviation Administration takes the lead)
(5) In the field of water resources. We will accelerate the construction of a number of major water conservancy projects, such as diversion and diversion of water, key water sources, River and lake management, large-scale irrigation districts, and promote the construction of major water conservancy projects, such as diversion of water from the Yangtze River to the Huaihe River, diversion from Yunnan Province, water resources allocation in the Pearl River Delta, Nianpanshan Water Conservancy and Hydropower Project and Xiangjiaba Irrigation Area Phase I, so as to further improve the water infrastructure We will accelerate the construction of weak links in post-disaster water conservancy, such as the management of small and medium-sized rivers. (The Ministry of Water Resources takes the lead)
(6) Energy field. We will further accelerate the construction of major hydropower projects such as the Lawa hydropower station on the Jinsha River and the Kara hydropower station on the Yalong River. We will accelerate cross-provincial and cross-regional transmission, optimize and improve the main grid structures of provincial power grids, and promote the implementation of a number of UHV transmission projects. Accelerate the implementation of a new round of rural power grid upgrading project. We will continue to promote the transformation of ultra-low emissions and energy saving of coal-fired units, intensify oil and gas exploration and development, and improve the production, supply, storage and marketing system of natural gas and the emergency gas storage capacity in key areas. We will actively promote a number of key projects such as oil and gas production capacity and pipeline network. (Energy Bureau takes the lead)
(7) Agricultural and rural areas. Vigorously implement the strategy of rural revitalization, and comprehensively increase the construction of agricultural infrastructure such as high-standard farmland, superior areas of characteristic agricultural products, and resource utilization of livestock and poultry manure, so as to promote the promotion of agricultural comprehensive production capacity. We will continue to promote the integration and development of rural industries. We will firmly promote three-year action to improve rural human settlements, support rural toilet improvement, promote the construction of rural domestic waste and sewage treatment facilities, and promote the comprehensive construction of villages. (The Central Agricultural Office, the Development and Reform Commission and the Ministry of Agriculture and Rural Areas are responsible for the division of responsibilities)
(8) The field of ecological and environmental protection. We will increase support for key ecological protection projects, such as natural forest resources protection, key shelter forest system construction and soil and water conservation. Support the construction of treatment facilities for municipal domestic sewage, domestic waste and hazardous waste, and accelerate the treatment of black and odorous water bodies. We will support major energy-saving projects such as coal reduction substitution and circular economy development projects. Supporting the comprehensive management of water environment in key river basins. (The Development and Reform Commission, the Ministry of Ecological Environment, the Ministry of Housing, Urban and Rural Construction, the Ministry of Water Resources and the Forestry and Grass Bureau shall take the lead according to their respective responsibilities)
(9) Social and livelihood areas. We will support the construction of facilities such as education, health care, culture, sports, old-age care and infant care, and further promote the equalization of basic public services. We will promote the construction of affordable housing projects, urban public facilities and urban drainage and waterlogging prevention facilities. We will accelerate the construction of the "last kilometer" hydroelectric, gas and postal services. (The Ministry of Education, the Health and Health Commission, the Ministry of Culture and Tourism, the General Administration of Sports, the General Administration of Radio, Film and Television, the Ministry of Civil Affairs, the Ministry of Housing, Urban and Rural Construction, and the Post Office are responsible for the division of duties and responsibilities.)
III. Supporting Policies and Measures
(1) Strengthen the reserve of major projects. According to the major strategic deployment, the outline of the national economic and social development plan, the major construction plan, the financial affordability and the government's investment capacity, etc., to meet the needs of economic development and people's livelihood, relying on the national major construction project pool, we should make up for the shortcomings in three key areas, namely, short-term, medium-term and long-term storage of a number of infrastructure. The project will form a project reserve and rolling continuation mechanism. (The Development and Reform Commission takes the lead, and the Ministry of Industry and Information Technology, the Ministry of Ecological Environment, the Ministry of Housing, Urban and Rural Construction, the Ministry of Transport, the Ministry of Water Resources, the Ministry of Agriculture and Rural Areas, the Energy Bureau, the Forest and Grass Bureau, the Railway Administration, the Civil Aviation Administration and the China Railway Corporation are responsible for the division of duties, while the local people's governments at all levels are
(2) Accelerate the pre-project work and start-up construction. Strengthen communication and coordination, strengthen supervision and dispatch, speed up early work in planning, site selection, land use, sea use, environmental assessment, soil and water conservation, and intensify land requisition and demolition, municipal support, hydropower access, and fund implementation, so as to promote the project to start construction as soon as possible. (The Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Natural Resources, the Ministry of Ecological Environment, the Ministry of Housing, Urban and Rural Construction, the Ministry of Transportation, the Ministry of Water Resources, the Ministry of Agriculture and Rural Areas, the Energy Administration, the Forest and Grass Administration, the Railway Administration, the Civil Aviation Administration and the China Railway Corporation are responsible for the division of responsibilities)
(3) To ensure the smooth implementation of the projects under construction and avoid the formation of "half-pull" projects. We will resolutely tackle the battle against major risks, take effective measures to guarantee the reasonable financing needs of the construction projects that are really necessary and related to the national economy and people's livelihood, promote the smooth completion of the projects, avoid capital outage and project failure, prevent major economic losses, affect social stability, and effectively prevent the "disposal of risks" Risk". (Local people's governments at all levels are responsible)
(4) Strengthen the management of local government special bond funds and projects. The financial department should improve the local government special bond system, optimize the special bond issuance procedures, and arrange the issuance schedule rationally. Distribution of Places政府專項債券規模時，在充分考慮債務水平基礎上，還要考慮在建項目和補短板重大項目資金需求，以及國家重大建設項目庫項目儲備情況。允許有條件的地方在專項債券發行完成前，對預算已安排的專項債券資金項目通過先行調度庫款的辦法，加快項目建設進度，債券發行后及時歸墊。地方政府建立專項債券項目安排協調機制，加強地方發展改革、財政部門間的溝通銜接，做好項目前期工作，按照財政部確定的專項債券額度，提出專項債券項目安排意見，確保專項債券發行收入可以迅速使用，重點用于在建項目和補短板重大項目。加大財政性資金支持力度，盤活各級財政存量資金，利用以往年度財政結余資金，保障項目建設。（發展改革委、財政部按職責分工負責，地方各級人民政府負責）
（五）加大對在建項目和補短板重大項目的金融支持力度。對已簽訂借款合同的必要在建項目，金融機構可在依法合規和切實有效防范風險的前提下繼續保障融資，對有一定收益或穩定盈利模式的在建項目優先給予信貸支持。鼓勵通過發行公司信用類債券、轉為合規的政府和社會資本合作（PPP）等市場化方式開展后續融資。在不增加地方政府隱性債務規模的前提下，引導商業銀行按照風險可控、商業可持續的原則加大對資本金到位、運作規范的必要在建項目和補短板重大項目的信貸投放力度，支持開發性金融機構、政策性銀行結合各自職能定位和業務范圍加大相關支持力度。發揮保險資金長期投資優勢，通過債權、股權、股債結合、基金等多種形式，積極為在建項目和補短板重大項目提供融資。（銀保監會牽頭負責，發展改革委、財政部、人民銀行、證監會按職責分工負責，地方各級人民政府負責）
（六）合理保障融資平臺公司正常融資需求。金融機構要在采取必要風險緩釋措施的基礎上，按照市場化原則保障融資平臺公司合理融資需求，不得盲目抽貸、壓貸或停貸，防范存量隱性債務資金鏈斷裂風險。在嚴格依法解除違法違規擔保關系的基礎上，對必要的在建項目，允許融資平臺公司在不擴大建設規模和防范風險的前提下與金融機構協商繼續融資，避免出現工程爛尾。按照一般企業標準對被劃分為“退出為一般公司類”的融資平臺公司審核放貸。在不增加地方政府隱性債務規模的前提下，對存量隱性債務難以償還的，允許融資平臺公司在與金融機構協商的基礎上采取適當展期、債務重組等方式維持資金周轉。支持轉型中的融資平臺公司和轉型后市場化運作的國有企業，依法合規承接政府公益性項目，實行市場化經營、自負盈虧，地方政府以出資額為限承擔責任。（銀保監會、發展改革委、財政部等按職責分工負責）
（七）充分調動民間投資積極性。貫徹落實各項已出臺的促進民間投資政策，細化配套措施，持續激發民間投資活力。盡快在交通、油氣、電信等領域推介一批投資回報機制明確、商業潛力大的項目。引導社會力量增加學前教育、健康、養老等服務供給，積極依法合規參與扶貧、污染防治等領域基礎設施建設。鼓勵金融機構和全國信用信息共享平臺、地方有關信息平臺加強合作，充分運用民營企業納稅等數據，推動開展“銀稅互動”等。積極發揮國家融資擔保基金作用，支持省級再擔保公司開展業務，推動符合條件的民營企業參與補短板重大項目。（發展改革委、財政部、銀保監會、稅務總局按職責分工牽頭負責）
（八）規范有序推進政府和社會資本合作（PPP）項目。鼓勵地方依法合規采用政府和社會資本合作（PPP）等方式，撬動社會資本特別是民間投資投入補短板重大項目。對經核查符合規定的政府和社會資本合作（PPP）項目加大推進力度，嚴格兌現合法合規的政策承諾，盡快落實建設條件。積極推動符合條件的政府和社會資本合作（PPP）項目發行債券、規范開展資產證券化。加強政府和社會資本合作（PPP）項目可行性論證，合理確定項目主要內容和投資規模。規范政府和社會資本合作（PPP）操作，構建合理、清晰的權責利關系，發揮社會資本管理、運營優勢，提高項目實施效率。規范有序盤活存量資產，鼓勵采取轉讓—運營—移交（TOT）、改建—運營—移交（ROT）等方式，將回收資金用于在建項目和補短板重大項目建設。（發展改革委、財政部按職責分工牽頭負責）
（九）深化投資領域“放管服”改革。依托全國投資項目在線審批監管平臺，對各類投資審批事項實行“一碼運轉、一口受理、一網通辦”，發揮在線平臺電子監察、實時監控功能，切實壓減審批時間。加大在線平臺應用力度，推動投資管理向服務引導轉型，優化投資環境。加快投資項目綜合性咨詢和工程全過程咨詢改革，切實壓減審批前的評價評估環節。推進工程建設項目審批制度改革，聚焦工程設計管理體制、施工許可環節等，壓減報建時間。（發展改革委、住房城鄉建設部按職責分工牽頭負責）
（十）防范化解地方政府隱性債務風險和金融風險。地方政府建設投資應當量力而行，加大財政約束力度，在建設項目可行性研究階段充分論證資金籌措方案。嚴格項目建設條件審核，區分輕重緩急，科學有序推進。嚴禁違法違規融資擔保行為，嚴禁以政府投資基金、政府和社會資本合作（PPP）、政府購買服務等名義變相舉債。金融機構要審慎合規經營，盡職調查、嚴格把關，按照市場化原則評估借款人財務能力和還款來源，綜合考慮項目現金流、抵質押物等審慎授信。（地方各級人民政府負責）
各地區、各部門要把基礎設施領域補短板作為推進供給側結構性改革、鞏固經濟穩中向好態勢、促進就業和提升國家長期綜合競爭力的重要舉措，按照職責分工抓好貫徹落實，強化分類指導，層層壓實責任，加強溝通協調，形成工作合力，確保各項政策及時落地生效。
國務院辦公廳
2018年10月11日
（本文內容有刪減）
