A large number of funds for batch release of projects need to be raised by the self financing platform, and it is difficult to loosen the loan.
a large number of funds for batch release of projects need to be raised by the self financing platform.
China construction machinery information
Guide: the news of accelerating the approval of new projects didn't excite the market for a few days. The news that the national development and Reform Commission clarified the untrue arrival of a new round of 4trillion investment calmed the market a lot. According to the national development and Reform Commission, behind these hot approved projects, most of them mean that nearly one third of the construction funds for waste plastics to enter the ecological environment need local governments
the news of "accelerating the approval of new projects" didn't excite the market for a few days. The news that the national development and Reform Commission clarified that "a new round of 4trillion investment is coming" calmed the market a lot
according to the national development and Reform Commission, behind these hot approved projects, most of the construction funds need to be raised by local governments, but it is difficult for banks to loosen their credit to local financing platforms
investment was again "entrusted with important tasks"
the weekly macroeconomic review released by the Agricultural Bank of China said that with the increasing risk of economic downturn, the importance of stable growth has increased significantly in the three policy objectives of stable growth, structural adjustment and price control. The Agricultural Bank of China suggests that the following four measures can be considered for investment driven growth: increasing grass-roots supporting investment; Identify and promote ongoing projects; Expand the scope of private investment; While encouraging residents' basic housing demand, we should further curb speculative investment demand
because consumption is stable and difficult to increase, exports are unable to control, and steady growth once again falls on investment
investment is entrusted with important tasks, and the action of the national development and Reform Commission is of great importance. The "project approval and approval" column of the Department's official website shows that in the first four months of this year, the national development and Reform Commission approved 868 new projects. In April alone, when the economic slowdown was obvious, the national development and Reform Commission approved 254 projects, more than twice the same period last year. On May 21, more than 100 projects were approved in one day
in recent days, we have seen an endless stream of people coming in and out of the door of the national development and Reform Commission, such as the well-known iPhone 5/5s. Many cars are parked in the temporary parking lot next to the door of the national development and Reform Commission. Twos and threes of people in the car are waiting for someone or waiting for a "call". The manager of the parking lot said, "almost all the cars parked here are people waiting for approval. I have worked here for two years, but I haven't said that there are too many people recently, because there have always been a lot of people here."
when talking with, most people who came out of the national development and Reform Commission or waited at the door said they came to "visit leaders and friends", and few admitted that they came to "run projects". However, I met several local officials running the projectAccording to the report of CICC, since infrastructure construction is the fastest and most direct tool for the government to hedge against the economic downturn, investment in clean energy, energy conservation and environmental protection, urban rail transit, railways and other sectors is expected to take the lead or continue to increase on the previous basis in the economic bottom finding stage
meanwhile, the HSBC manufacturing PMI showed that the preview value of China's manufacturing PMI in May was 48.7%, down again from 49.3% in April, indicating that the pace of economic growth continues to slow down. The executive meeting of the State Council held last Wednesday believed that in the face of the increasing downward pressure on the economy, we should attach more importance to stabilizing growth
a large amount of funds need to be raised by themselves. Banks strictly control platform loans
insiders believe that the role of projects recently released by the national development and Reform Commission in the economic downturn depends on bank loans and the investment amount of these projects
behind the approval of these projects, in addition to some public welfare projects with supporting funds from the central government, many projects need local self financing. An official who claimed to be from Shanxi batch of airport projects told: "for these projects, some public utility projects, the central government will have some supporting funds, and the rest need to be raised by the local government. Most operational projects need to be fully self raised."
according to the Research Report of CICC, in terms of industry classification, as of May 27, 2012, the national development and Reform Commission has approved a total of 1263 projects this year. Except for 222 overseas projects requiring approval and 159 work relief projects, the remaining 882 projects, divided by industry, account for 78.8% of public utility projects and 11.3% of information services
the above-mentioned Shanxi official said: "about half of the funds for public utility projects may need to be raised by local governments themselves, mainly through bank loans, bond issuance and private capital investment."
an official from Xinxiang, Henan Province admitted, "it's too difficult to get a loan from the bank now."
another county Party secretary from the West also expressed the same feeling in an interview: "now the bank loan card is tight! The local financing platform companies at the county level have been suspended, and they will not be allowed to operate in the second half of this year, only the municipal ones will be retained. If the county government needs financing, it can only pass the project, and our capital demand this year may be 4.5 billion."
according to the 2010 China regional financial operation report of the central bank, by the end of 2010, there were more than 10000 local government financing platforms in China, of which county-level platforms accounted for about 70%. However, with regard to the news that the county-level local financing platform companies stopped lending, their nominal diameters dn/mm (taking 1x7 as an example) were 9.50, the above officials did not make it clear whether it was only the local situation, nor did they have an authoritative statement from the competent department
a general manager of the credit management department of a joint-stock bank was also helpless: "I haven't heard that any bank has increased loans for these newly approved projects. Loans can't be given by anyone who wants them. Banks are also subject to many restrictions, such as the reduction of deposits, the limitation of deposit loan ratio, the requirements of capital adequacy and liquidity indicators, the bank's risk policies, the proportion of industry restrictions, etc."
bank credit is blocked, issuing bonds or another channel for local government financing. On May 31, some media reported that by the end of May this year, at least 13 provinces (cities, districts) across the country had made public their local government bond issuance scale and capital arrangement plans this year, with a total amount of about 107.3 billion yuan