On the morning of October 25, the State Council Information Office held a regular briefing on State Council policies to introduce the situation of increasing the issuance of treasury bonds, supporting post-disaster recovery and reconstruction, and improving disaster prevention, reduction, and relief capabilities, and answered reporters' questions.
Zhu Zhongming, Vice Minister of Finance, said that since the beginning of this year, many places in our country have suffered from heavy rains, floods, typhoons and other disasters. Some areas have been severely affected and suffered heavy losses, and local post-disaster recovery and reconstruction tasks are relatively heavy. At the same time, various types of extreme natural disasters have occurred frequently in our country in recent years, which has placed higher demands on our country's disaster prevention, reduction, and relief capabilities. The Party Central Committee and the State Council attach great importance to this. On August 17, the Standing Committee of the Political Bureau of the Central Committee held a meeting to study and deploy flood prevention, flood relief, and post-disaster recovery and reconstruction work. It called for accelerating recovery and reconstruction, further improving my country's disaster prevention, reduction, and relief capabilities, and strengthening emergency command at all levels. We will strengthen the capacity building of national regional emergency rescue centers, improve grassroots disaster prevention and avoidance capabilities, accelerate the improvement of flood control engineering systems in river basins, especially major river basins in the north, and strengthen the planning and construction of urban flood control and drainage capabilities.
To this end, the State Council proposed a bill to issue additional treasury bonds in 2023 to support post-disaster recovery and reconstruction and improve disaster prevention, reduction and relief capabilities, which has been reviewed and approved at the sixth meeting of the Standing Committee of the 14th National People's Congress. The specific content mainly includes the following aspects:
About the scale of funds. In combination with the needs of post-disaster recovery and reconstruction, disaster prevention, reduction and relief, as well as overall planning of fiscal affordability, it was decided to issue an additional 1 trillion yuan of 2023 treasury bonds in the fourth quarter of this year as special treasury bonds. Based on this calculation, the national fiscal deficit will increase from 3.88 trillion yuan to 4.88 trillion yuan in 2023, the central fiscal deficit will increase from 3.16 trillion yuan to 4.16 trillion yuan, and the fiscal deficit rate is expected to increase from 3% to about 3.8%.
Regarding the direction of fund investment, it focuses on the key tasks determined by the Standing Committee of the Political Bureau of the CPC Central Committee, focusing on post-disaster recovery and reconstruction and improving disaster prevention, reduction and relief capabilities, and is mainly used in 8 directions:
First, it is used for post-disaster recovery and reconstruction, supporting post-disaster recovery and reconstruction in North China, focusing on the Beijing-Tianjin-Hebei region, and improving disaster prevention and reduction capabilities, and promoting the recovery of basic production and living conditions and economic development in the disaster-stricken areas to pre-disaster levels.
Second, it is a backbone flood control project focusing on northern areas such as the Haihe River and Songhua River basins. We will support flood control and management of the mainstreams of major rivers and lakes, deal with the flood control impacts of the South-to-North Water Diversion Project, build large and medium-sized reservoirs, and build embankments in flood storage and detention areas, and accelerate the improvement of the flood control engineering system.
Third, it is a project to improve natural disaster emergency response capabilities. Support the implementation of early warning command projects, rescue capability projects, catastrophe prevention projects and grassroots disaster prevention projects, strengthen emergency command systems at all levels, and improve disaster prevention and avoidance capabilities.
Fourth, there are other key flood control projects. Support the management of major tributaries, small and medium-sized rivers, mountain torrent gullies and the construction of drainage capacity in key areas, hydrological infrastructure, small reservoir projects, risk removal and reinforcement of dangerous reservoirs and safety monitoring, seawall management, and overall improvement of flood and drought disaster prevention capabilities.
Fifth, it is the construction and renovation of irrigation areas and key soil and water loss control projects. We will support the construction, renovation and restoration of irrigation areas, the management of erosion ditches in black soil areas in Northeast China, and the management of water and soil erosion in Danjiangkou Reservoir, and improve the ability to ensure irrigation water supply and drainage and to prevent and mitigate disasters.
Sixth, it is an action to improve urban drainage and flood prevention capabilities. Support the construction of urban drainage and flood prevention engineering systems and promote systematic solutions to urban waterlogging problems.
Seventh, it is a key natural disaster comprehensive prevention and control system construction project. Support the construction of a comprehensive prevention and control system for geological disasters, a comprehensive prevention and control system for marine disasters, the construction of emergency roads for forest fire prevention, and the construction of meteorological infrastructure, and promote the transformation of disaster prevention and control from reducing disaster losses to reducing disaster risks.
Eighth, it is used for high-standard farmland construction in Northeast China and disaster-stricken areas in the Beijing-Tianjin-Hebei region. Priority will be given to supporting the Northeastern region and the disaster-stricken areas of Beijing-Tianjin-Hebei to carry out high-standard farmland construction.
About budget arrangements. In order to ease the financial expenditure pressure on local governments in post-disaster recovery and reconstruction and improve disaster prevention, reduction and relief capabilities, all the additional 1 trillion yuan in treasury bonds issued this time will be allocated to local governments through transfer payments, and will be used according to relevant work progress and project reserves. , use strong funds to ensure the implementation of the work, and focus on supporting post-disaster recovery and reconstruction and improving disaster prevention, reduction and relief capabilities.
In the next step, the Ministry of Finance will, in accordance with the deployment requirements of the Party Central Committee and the State Council, work with relevant departments to implement the additional issuance of treasury bonds, launch treasury bond issuance in a timely manner, do a good job in budget distribution, continue to track and strengthen the supervision of treasury bond funds, and effectively improve Efficiency in the use of national debt funds.
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