财政部：地方债可支持存量PPP项目建设

Core Insights - The implementation of the new PPP mechanism has led to a narrowing of the scope for government and social capital cooperation, resulting in difficulties for some existing PPP projects [1] - The Ministry of Finance has issued guidelines to regulate the construction and operation of existing PPP projects, aiming to improve project quality and efficiency [1][2] - Approximately 70% of existing PPP projects have entered the operational phase, which directly impacts the quality and efficiency of public service supply [1] Summary by Sections Government and Social Capital Cooperation - The new PPP mechanism has caused some existing projects to face issues such as government arrears and financing obstacles, leading to cash flow shortages for social capital [1] - The Ministry of Finance, in collaboration with relevant departments, has drafted guidelines to enhance the operation of existing PPP projects [1][2] Financial Institutions and Project Financing - Financial institutions are required to objectively assess and support financing for ongoing projects based on market principles, ensuring timely loan disbursement under legal agreements [2] - The guidelines aim to eliminate barriers to financing, thereby safeguarding reasonable funding for ongoing PPP projects [2] Local Government Support and Risk Mitigation - The Ministry of Finance has conducted extensive field research and meetings to gather best practices and track progress in various regions [3] - Local governments are encouraged to use general and special bonds to fund existing PPP projects, ensuring that budget management for operational subsidies is strictly adhered to [3] - Specific arrangements have been made in various regions to address risks associated with existing PPP projects, such as the allocation of special bonds for risk mitigation [3] Stakeholder Responsibilities - The guidelines clarify the responsibilities of local governments, social capital, and financial institutions in the construction and operation of existing PPP projects, which is expected to enhance funding stability and investor confidence [4]