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政府专项债券规模时，在充分考虑债务水平基础上，还要考虑在建项目和补短板重大项目资金需求，以及国家重大建设项目库项目储备情况。允许有条件的地方在专项债券发行完成前，对预算已安排的专项债券资金项目通过先行调度库款的办法，加快项目建设进度，债券发行后及时归垫。地方政府建立专项债券项目安排协调机制，加强地方发展改革、财政部门间的沟通衔接，做好项目前期工作，按照财政部确定的专项债券额度，提出专项债券项目安排意见，确保专项债券发行收入可以迅速使用，重点用于在建项目和补短板重大项目。加大财政性资金支持力度，盘活各级财政存量资金，利用以往年度财政结余资金，保障项目建设。（发展改革委、财政部按职责分工负责，地方各级人民政府负责）
（五）加大对在建项目和补短板重大项目的金融支持力度。对已签订借款合同的必要在建项目，金融机构可在依法合规和切实有效防范风险的前提下继续保障融资，对有一定收益或稳定盈利模式的在建项目优先给予信贷支持。鼓励通过发行公司信用类债券、转为合规的政府和社会资本合作（PPP）等市场化方式开展后续融资。在不增加地方政府隐性债务规模的前提下，引导商业银行按照风险可控、商业可持续的原则加大对资本金到位、运作规范的必要在建项目和补短板重大项目的信贷投放力度，支持开发性金融机构、政策性银行结合各自职能定位和业务范围加大相关支持力度。发挥保险资金长期投资优势，通过债权、股权、股债结合、基金等多种形式，积极为在建项目和补短板重大项目提供融资。（银保监会牵头负责，发展改革委、财政部、人民银行、证监会按职责分工负责，地方各级人民政府负责）
（六）合理保障融资平台公司正常融资需求。金融机构要在采取必要风险缓释措施的基础上，按照市场化原则保障融资平台公司合理融资需求，不得盲目抽贷、压贷或停贷，防范存量隐性债务资金链断裂风险。在严格依法解除违法违规担保关系的基础上，对必要的在建项目，允许融资平台公司在不扩大建设规模和防范风险的前提下与金融机构协商继续融资，避免出现工程烂尾。按照一般企业标准对被划分为“退出为一般公司类”的融资平台公司审核放贷。在不增加地方政府隐性债务规模的前提下，对存量隐性债务难以偿还的，允许融资平台公司在与金融机构协商的基础上采取适当展期、债务重组等方式维持资金周转。支持转型中的融资平台公司和转型后市场化运作的国有企业，依法合规承接政府公益性项目，实行市场化经营、自负盈亏，地方政府以出资额为限承担责任。（银保监会、发展改革委、财政部等按职责分工负责）
（七）充分调动民间投资积极性。贯彻落实各项已出台的促进民间投资政策，细化配套措施，持续激发民间投资活力。尽快在交通、油气、电信等领域推介一批投资回报机制明确、商业潜力大的项目。引导社会力量增加学前教育、健康、养老等服务供给，积极依法合规参与扶贫、污染防治等领域基础设施建设。鼓励金融机构和全国信用信息共享平台、地方有关信息平台加强合作，充分运用民营企业纳税等数据，推动开展“银税互动”等。积极发挥国家融资担保基金作用，支持省级再担保公司开展业务，推动符合条件的民营企业参与补短板重大项目。（发展改革委、财政部、银保监会、税务总局按职责分工牵头负责）
（八）规范有序推进政府和社会资本合作（PPP）项目。鼓励地方依法合规采用政府和社会资本合作（PPP）等方式，撬动社会资本特别是民间投资投入补短板重大项目。对经核查符合规定的政府和社会资本合作（PPP）项目加大推进力度，严格兑现合法合规的政策承诺，尽快落实建设条件。积极推动符合条件的政府和社会资本合作（PPP）项目发行债券、规范开展资产证券化。加强政府和社会资本合作（PPP）项目可行性论证，合理确定项目主要内容和投资规模。规范政府和社会资本合作（PPP）操作，构建合理、清晰的权责利关系，发挥社会资本管理、运营优势，提高项目实施效率。规范有序盘活存量资产，鼓励采取转让—运营—移交（TOT）、改建—运营—移交（ROT）等方式，将回收资金用于在建项目和补短板重大项目建设。（发展改革委、财政部按职责分工牵头负责）
（九）深化投资领域“放管服”改革。依托全国投资项目在线审批监管平台，对各类投资审批事项实行“一码运转、一口受理、一网通办”，发挥在线平台电子监察、实时监控功能，切实压减审批时间。加大在线平台应用力度，推动投资管理向服务引导转型，优化投资环境。加快投资项目综合性咨询和工程全过程咨询改革，切实压减审批前的评价评估环节。推进工程建设项目审批制度改革，聚焦工程设计管理体制、施工许可环节等，压减报建时间。（发展改革委、住房城乡建设部按职责分工牵头负责）
（十）防范化解地方政府隐性债务风险和金融风险。地方政府建设投资应当量力而行，加大财政约束力度，在建设项目可行性研究阶段充分论证资金筹措方案。严格项目建设条件审核，区分轻重缓急，科学有序推进。严禁违法违规融资担保行为，严禁以政府投资基金、政府和社会资本合作（PPP）、政府购买服务等名义变相举债。金融机构要审慎合规经营，尽职调查、严格把关，按照市场化原则评估借款人财务能力和还款来源，综合考虑项目现金流、抵质押物等审慎授信。（地方各级人民政府负责）
各地区、各部门要把基础设施领域补短板作为推进供给侧结构性改革、巩固经济稳中向好态势、促进就业和提升国家长期综合竞争力的重要举措，按照职责分工抓好贯彻落实，强化分类指导，层层压实责任，加强沟通协调，形成工作合力，确保各项政策及时落地生效。
国务院办公厅
2018年10月11日
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