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Shandong: Successive allocation of nearly 300 billion yuan of policy funds will accelerate project construction

Source：The Seanews 06-09-2023 13:33:39

Shandong is making effective use of various policy funds and leveraging their potential to strongly support project construction.

The first batch of 218.4 billion yuan of Shandong's local government special bonds for this year will be fully disbursed by the end of June, providing significant support for the construction of 1,108 projects on the list. Additionally, Shandong has secured 57.7 billion yuan of policy-based and developmental financial instruments and invested 20.1 billion yuan in equipment purchase, renewal, and renovation loans. These policy funds have been used effectively, resulting in accelerated progress in project construction.

It is reported that as policy-based and developmental financial instruments, especially the capital available for major projects, feature extended deadlines and low interest rates, they possess a "leverage effect" to provide support for projects. Special bonds have become the main source of funds for governments at all levels to promote project construction. In Shandong, the quota of bonds accounts for nearly one-tenth of the country's total, supporting almost ten percent of the province's total fixed asset investment.