Li Keqiang: this money is not allowed to engage in image projects or face projects

Transferred from China government website

"It is necessary to optimize the investment direction of local government special bond funds, and never allow image projects and face projects." Premier Li Keqiang stressed at the executive meeting of the State Council on July 15.

On the same day, the meeting called for making good use of local government special bonds, strengthening the connection between funds and projects, and improving the efficiency of fund use. As of mid July, the 3.75 trillion yuan of new local government special bonds approved by the National People's Congress had issued 2.24 trillion yuan and spent 1.9 trillion yuan, all of which were used to make up for the major construction of the short board.

"The overall utilization rate of new local government special bonds this year is relatively fast, and the utilization rate has reached 85%. This has played a positive role in coping with the impact of the epidemic, expanding effective investment and stabilizing the economic fundamentals. " Li Keqiang said.

He stressed that all localities should speed up the issuance and use of special bonds, support the construction of "two new and one heavy" and public health facilities, which can be timely used to strengthen the construction of disaster prevention and mitigation according to needs. If it is difficult to implement the project in the short term and it is necessary to adjust the use of funds, it should be completed before the end of September in principle and reported according to the procedures.

"In the current situation, if the new special bonds of local governments have been issued, we should seize the opportunity to form the physical workload as soon as possible, ensure the quality of the project, and give full play to the important role of investment in promoting economic and social development." The prime minister said.

Li Keqiang stressed that it is necessary to optimize the investment direction of bond funds. It is strictly forbidden to use it to replace existing debts. It is absolutely not allowed to engage in image projects and face projects.

"In some places, some areas that are not old residential areas or shantytowns are demolished as soon as they are demolished. It is said that it is for urban beautification, but it never considers where the money comes from, causing a huge financial burden. " The premier said, "China is still a developing country. We must try our best to do whatever we can."

Li Keqiang clearly pointed out that the new special local government debt this year should be used for "six stabilities" and "six guarantees".

"In the face of the complicated and severe situation at home and abroad, our first task is to concentrate on our own affairs and do what is urgently needed. As far as the present is concerned, we should do a good job in "stability" and "security." The premier said, "if we control and use the strength of macro policy adjustment and stabilize the basic economic situation, we will leave huge space for future development."