[SMM Steel Market Morning News: The Screening of Local Government Spec

Published: Apr 24, 2024 07:03

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[SMM Steel Market Morning News: The Screening of Local Government Special Bond Projects for 2024 Has Been Completed, with About 38,000 Projects Approved] The National Development and Reform Commission (NDRC), in collaboration with the Ministry of Finance, has completed the screening of local government special bond projects for 2024. A total of about 38,000 special bond projects have been approved, with a demand for special bonds estimated to be around 5.9 trillion yuan in 2024, laying a solid foundation for the issuance and use of 3.9 trillion yuan of special bonds this year. In accordance with the working mechanism and responsibility division of local government special bonds clarified by the Party Central Committee and the State Council, the NDRC will review and approve the investment areas and preliminary work of the projects, while the Ministry of Finance will review and approve the balance of project financing and returns. In the next step, the focus will be on urging and guiding all local governments to strictly adhere to project quality requirements, effectively accelerate project construction and the use of funds, promote the formation of physical workload as soon as possible, and actively expand effective investment...

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