Ministry of Finance Clarifies 'Negative List' for 'Two New' Initiative Funds, Bans Use for Debt Repayment, Among Others

[Ministry of Finance: Funds Related to the "Two New" Initiatives Cannot Be Used to Repay Government Debts, etc.]

The National Development and Reform Commission held a special press conference on September 23rd to introduce the overall progress and achievements of the large-scale equipment upgrading and consumer goods trade-in policies. Zhao Changsheng, Deputy Director of the Department of Economic Construction at the Ministry of Finance, stated that reinforcing support for the "two new" initiatives requires significant financial investment and covers multiple sectors, necessitating continuous enhancement of fund supervision to ensure fund security. In response, the Ministry of Finance, in collaboration with the National Development and Reform Commission and other departments, has established a regular scheduling mechanism to closely track the progress of policy implementation and strengthen the accountability of local authorities in project and fund management. Furthermore, a "negative list" for fund usage has been clarified, stipulating that the relevant funds cannot be used to balance budgets, repay government debts, settle overdue corporate payments, or cover "three guarantees" expenditures. Specific measures such as online monitoring and offline verification are being implemented to prevent fund misappropriation and embezzlement, ensuring that the "real money" policies are effectively implemented and yield early results.