On August 26th, the State Council held a regular briefing on the State Council policy. Xu Hongcai, Vice Minister of Finance, introduced the progress of reaching the grassroots level in cities and counties with new financial funds. Li Jinghui, Director of the Budget Department of the Ministry of Finance, and Wang Xiaolong, Director of the Treasury Department, answered questions from reporters on the effectiveness of the central direct appropriation policy, the progress of direct appropriation, and the issuance of special treasury bonds.
The effect of the central direct capital policy has gradually emerged in five aspects.
"With the joint efforts of all relevant departments in various regions, the current direct subsidy mechanism is operating effectively and orderly, and the policy effect is gradually emerging." Xu Hongcai said that according to the monitoring system of direct subsidy funds, direct subsidy funds have played a role in ensuring residents' employment, basic people's livelihood, market players, grass-roots operation and major infrastructure construction, providing a strong guarantee for all localities to do a good job in the "six guarantees" and implement the "six guarantees" tasks.
Li Jinghui introduced that direct investment funds have achieved results mainly in five aspects:
First, focus on supporting normal and long-term epidemic prevention and control. Arrange the expenditure of normalized epidemic prevention and control funds such as the construction of public health system and major epidemic prevention and control system to support winning the epidemic prevention and control war. For example, Wuhan City, Hubei Province has arranged 4.726 billion yuan to support 1 1 the reconstruction and expansion of central city hospitals and the construction of primary medical and health service systems; Tianjin and other places arrange funds for the procurement of epidemic prevention and control materials and guarantee the cost of large-scale nucleic acid testing.
The second is to focus on supporting and helping enterprises to protect market players. Include comprehensive measures such as discount loans, helping enterprises to stabilize their jobs, subsidies and subsidies, and implementing the policy of helping enterprises out of difficulties. According to incomplete statistics, the above-mentioned policies and measures have spent more than 654.38+04 billion yuan, benefiting nearly 80,000 small and medium-sized enterprises and more than 60,000 individual industrial and commercial households. Some cities and counties in Anhui pay special refinancing discount funds from the People's Bank of China; Ningbo arranges subsidies for small and micro enterprises and individual industrial and commercial households to help enterprises stabilize their jobs and reduce costs.
The third is to focus on supporting the masses and ensuring the employment of residents. Including the overall use of employment subsidy funds, vocational skills upgrading action funds, and the implementation of employment priority policies. According to incomplete statistics, the above policies and measures have cost more than 654.38+0.5 billion yuan. For example, some cities and counties in Shandong provide enterprises with stable job subsidies and stable jobs; Sichuan arranges funds for upgrading vocational skills and provides free vocational skills training for poor laborers, laid-off workers, retired soldiers and other groups; Some counties in Xinjiang arrange funds to support the poor labor force to transfer employment.
The fourth is to focus on sinking financial resources and ensuring grassroots operation. This time, it requires direct access to the grassroots, including increasing financial support for the grassroots, firmly grasping the bottom line of "three guarantees" and ensuring the normal operation of the grassroots. For example, Yunnan included 654.38+08.42 billion yuan in direct financial transfer payments, up by 23.2 percentage points over the previous year; Guangdong has allocated 24.35 billion yuan of direct subsidy funds to the grass-roots units in cities and counties, realizing that all county financial transfer payments only increase; Guangxi allocated 654.38+09.485 billion yuan of direct subsidies from cities and counties to ensure basic livelihood and grass-roots operation.
Fifth, concentrate financial resources to support major projects. Support major projects such as public health system, major epidemic prevention and control system, emergency material support system, industrial chain transformation and upgrading through anti-epidemic special national debt funds, and actively play the leverage role of funds on industrial chain, investment and financing.
The central government allocated direct funds of 1.674 trillion yuan, 98.5% of which has been completed.
Xu Hongcai said that the direct progress of 2 trillion new financial funds is obvious from the central distribution, provincial financial resources and financial resources of cities and counties.
In terms of distribution, as of mid-August, excluding the 300 billion yuan used to support tax reduction and fee reduction, the central government has allocated 1.7 trillion yuan of funds directly managed, accounting for 98.5%. In the direct access of 2 trillion yuan, 300 billion yuan is used to support new tax reduction and fee reduction, which is accurately implemented by the tax authorities and reflected by fiscal reduction; 10.7 trillion is reflected by fiscal expenditure. The remaining 1.5%, that is, about 26 billion, has not been distributed, mainly to save some money for the follow-up epidemic prevention and control, and some subsidy policies for the endowment insurance of central units have to be implemented. In some places, the accounts are not completely clear, so they need to be kept for a short time and issued in time according to the progress.
Judging from the provincial financial situation, the provincial financial allocation has reached 1.558 trillion yuan, accounting for 93.3% of the funds already allocated by the central government, and most of them have been fully allocated. The remaining 6.7% is mainly 90.2 billion yuan of special epidemic prevention treasury bonds distributed according to the prescribed proportion. If 90.2 billion yuan is excluded, the proportion of local funds allocated to the central government is 98.7%, and the remaining 1.3% is due to the fact that some accounts in the provinces are still unclear and the overall local allocation rate is very high.
Judging from the financial situation of cities and counties, of the 1.558 trillion yuan allocated by the provincial finance, the city and county finance has implemented 1.45 1 trillion yuan of specific projects, accounting for 95% of the funds issued at the provincial level. After the funds from the superior financial department reach the cities and counties, the cities and counties should implement the projects, and they are relatively good projects that have been prepared in the early stage. If it is not implemented in the project, there is no way to spend it. There are still 5% projects that have not been implemented for the time being, indicating that the whole arrangement mechanism is very fast.
Judging from the use of funds, as of mid-August, the actual expenditure of 1.7 trillion yuan has reached 509.7 billion yuan, including 488.8 billion yuan at the grassroots level in cities and counties, accounting for 95.9%, which reflects the policy effect that funds are directly tilted to the grassroots level. Among them, municipal level accounts for 14.5%, county level accounts for 810.4%, and provincial expenditure is 4. 1%. The existence of provincial 4. 1% expenditure is mainly based on the requirements of provincial overall planning of endowment insurance, in other words, the basic pension expenditure should also be reflected in provincial overall planning.
Xu Hongcai pointed out that, on the whole, by adopting the direct method, the progress of fund allocation was obviously accelerated, and the efficiency of fund arrangement and use was greatly improved. We can predict that the cities and counties have allocated all the funds to the project, which has laid a good foundation for the subsequent budget implementation and the speed will be further improved.
At present, the funds raised by special treasury bonds have reached local governments in advance.
"Issuing 1 trillion yuan of special anti-epidemic treasury bonds is an important measure for the CPC Central Committee and the State Council to increase macro-policy adjustment in response to the impact of the COVID-19 epidemic, and it is also a major decision." Wang Xiaolong said that from the first issue of 18 in June to the end of July 30th, * * * issued a special anti-epidemic bond of 16. 1 trillion national debt has three maturities, namely, five-year, seven-year and 10-year. Four periods of * * * 200 billion yuan in five years, two periods of * * * 10 billion yuan in seven years, and * * 700 billion yuan 10 period in/kloc-0. Generally speaking, the distribution structure is reasonable and the distribution rhythm is stable.
Wang Xiaolong pointed out that, on the whole, investors have high subscription enthusiasm and diverse subscribers, and the average bid multiple is 2.54 times, which is higher than the average bid multiple of ordinary book-entry interest-bearing government bonds in the second quarter. The average issue rate is 2.77%, which is lower than the yield of the national debt secondary market in the first five days 10 basis point, and it is well connected with the national debt secondary market, which is in line with investors' expectations. Comments from all walks of life are also positive, arguing that the issuance of special government bonds is highly transparent and the issuance rhythm is relatively stable.
Wang Xiaolong revealed that at present, the funds raised by special treasury bonds have been distributed to local governments in advance, and local governments are stepping up efforts to implement the funds into specific projects. Some funds have already formed actual expenditure, and the policy effect is gradually emerging. In the next step, the Ministry of Finance will strengthen the supervision of special treasury bonds to ensure effective funds. At the same time, further strengthen the issuance management of general government bonds and local government bonds, and successfully complete the annual government bond issuance task.