新型政策性金融工具渐近多地“摩拳擦掌”

Core Viewpoint - The anticipation for the official announcement of the "new type of policy financial tools" is building, with local governments already conducting policy interpretation and project application meetings, indicating that the official announcement is imminent [1][2]. Group 1: Policy Financial Tools Overview - Local governments in 12 provinces, including Shandong, Hunan, and Hubei, have held meetings to discuss the new policy financial tools, aiming to seize opportunities in the upcoming policy framework [1]. - In 2022, three policy financial institutions created and deployed approximately 740 billion yuan (about 740 billion) in policy and development financial tools to support major project capital and bridge funding for special bond projects [1]. - The new tools are expected to be officially launched in the second quarter of 2023, as indicated by market research institutions [1]. Group 2: Support and Funding Mechanisms - The new tools are designed to address funding gaps in key areas such as new urbanization, agriculture, artificial intelligence, digital economy, and consumer infrastructure [3]. - Historical experience suggests that fiscal and monetary policies will provide necessary support for the new tools, with a focus on using monetary policy to supplement fiscal efforts, particularly through mechanisms like the Pledged Supplementary Lending (PSL) [2]. - Local governments are actively planning and reserving projects to maximize the benefits of the new tools, emphasizing the importance of leveraging social capital and expanding effective investment [4]. Group 3: Project Focus and Implementation - Specific areas of focus for project applications include industrial development, cultural tourism, agriculture, and urban construction, with local governments identifying priority projects in these sectors [3]. - The three main policy financial institutions involved in the new tools—China Development Bank, Agricultural Development Bank, and China Export-Import Bank—are actively participating in policy interpretation sessions to clarify eligibility and operational models [3]. - Local governments are urged to take advantage of the project application window to implement high-quality projects that translate policy potential into tangible development outcomes [4].