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Chinese State Council comand to properly handle the request of the state council, local government and bank financing platform company under construction project follow-up funding problems.Local governments at various levels and the banking financial institutions should, according to the principle of total amount control, discriminate, support the financing platform company of stock financing needs.Banking financial institutions for construction projects shall not blindly pumping loans, loans, and suspension.
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The following is a full text:
The people's bank of China banking regulatory commission (CBRC) under the state council on forwarding the ministry of finance
About the proper settlement of the local government financing platform company construction projects
The opinions of the follow-up funding problems
Countries do hair [2015] no. 40
The provinces, autonomous regions and municipalities directly under the central government, ministries under the state council, directly affiliated institutions:
The ministry of finance, people's bank of China, the China banking regulatory commission on the proper settlement of the local government financing platform company's opinions on construction projects follow-up financing problems have agreed to under the state council, is transmitted to you, please implement seriously.
The state council general office
On May 11, 2015
First, general requirements and the applicable scope
(1) general requirements.Local governments at various levels and the banking financial institutions should properly handle the financing platform company under construction project follow-up funding problems, to distinguish between stock and incremental implementing classified management, compliance for financing in accordance with the law, to meet the need of promoting economic development and guard against financial risks.
(2) the scope of application.Refers to the financing platform company by the local government and its departments and agencies through funding or set up the injection of assets such as land, equity, undertake the government investment project financing function, and has an independent legal person status economic entity.Project under construction is to point to in the country is sent [2014] no. 43 file written before date (September 21, 2014), by the relevant competent department of investment to complete the examination and approval in accordance with the relevant regulations, approved or put on record formalities, and has set up a construction project.
Second, the key task
(3) the support of stock financing needs.Local governments at various levels and the banking financial institutions should, according to the principle of total amount control, discriminate, support the financing platform company under stock financing needs of the project, to ensure the project under construction.On December 31, 2014 have signed a legally binding contract for loan of money and has set up a loan, but the financing platform company contract has not yet under construction project loans, the banking financial institutions to control on the comprehensive risk, to carry out the credit conditions under the premise of continue to make loans according to contract agreement, shall not blindly pumping loans, loans, and suspension.On December 31, 2014 have signed a contract for loan of money has the force of law, and contract of construction project loan financing platform company, if the project is its operating income to debt servicing, banking financial institutions shall negotiate with local government, the financing platform company, in the subsequent borrowing are consistent with previous loan contract responsibility, and under the premise of ensure that loan contract amount does not increase, revising the loan contract, reasonable loan term, qualified and effective for collateral.
(4) incremental implementation of construction project financing.Local governments at all levels must pay close attention to the financing platform company under construction projects shall be made by the incremental funding needs of financial support, on the premise of compliance in accordance with the law, standardize management, plan as a whole financial capital and social capital and other kinds of funds, guarantee project under construction and ending.For signed the loan contract cannot meet the needs of the construction, and is suitable to the government and social capital cooperation mode of financing platform company construction projects, the government and social capital has priority mode of cooperation, make up for the project under construction increment financing needs.Sign a contract to have loan cannot meet the needs of the construction, and in conformity with the relevant provisions of the state and really have no other source of construction fund, but should not be temporarily into government and social capital cooperation mode of financing platform company construction projects, the incremental funding needs into the government budget management, issued by local government according to the relevant provisions of the legal requirements and government bonds.
(5) to the management of construction projects follow-up financing.Banking financial institutions to promote the development and risk prevention, strictly regulate the credit management, strengthen the risk identification and risk control.For the financing platform company under construction project loans, the banking financial institutions to carefully measure the financing platform company reimbursement ability and construction project benefits, on the basis of comprehensive consideration of local government debt paying ability, independent decision making, at their own risk and keep the follow-up financing management.Banking financial institutions should conscientiously review on loan, key support farmland water conservancy facilities, affordable housing projects, such as urban rail transit financing platform company in the field of construction projects, to ensure that the loan in accordance with industry development needs and industrial park development plan.
(6) perfect supporting measures.To local governments in accordance with the requirements of the law and the relevant provisions of the project under construction to solve the follow-up financing, government bonds in the security under the premise of fiscal expenditure needs, with corresponding government bond issuance, and Treasury such balance the region more than a month and a half of such payment security level, allowing local financial departments in the government bond issuance, make greater efforts to revitalize the previous fiscal year stock funds use beyond the coffers of the part of such capital turnover for government bonds issued before, in order to solve under construction project financing and the time lag between the government bond issuance.Local finance department in its coffers, before such used for capital turnover must be reported to the approval of the people's government at the corresponding level, and the people's congress (NPC) a copy of relevant agencies and related units.Local finance department upon completion of government bond issuance, will all money back in time to the state Treasury.Ministry of finance, national development and reform commission, the people's bank of China, the China banking regulatory commission and other relevant departments to strengthen local government debt information sharing, closely monitor changes in debt.
Third, organize the implementation
(7) to strengthen organization and leadership.The local people's governments at various levels and departments concerned should start from the overall situation, fully understand well the importance of the financing platform company under construction project follow-up financing work, unified thought, strengthen the leadership, combining the reality of the region, the department seriously carry out.
(eight) closely together.The ministry of finance and the people's bank to strengthen the coordination between fiscal policy and monetary policy, create a good market environment for local governments to issue bonds.The Treasury to establish supporting measures for the administration of local government bonds, to strengthen local government bond issuance and use of work organization and leadership.The China banking regulatory commission to strengthen supervision, correct guidance, promote banking financial institutions in compliance in accordance with the law, under the precondition of effective prevention of risks, to do a good job of financing platform company construction projects follow-up financing, and to convey our opinion to the banking financial institutions.Departments should earnestly perform their duties, strengthen policy coordination, and jointly do the financing platform company under construction project follow-up financing related work, to ensure that the policy in place in time.
(9) on local government financing platform company under construction project follow-up financing problem, otherwise stipulated by the state council, such provisions shall govern.
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