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5000亿“准财政”工具要来了
21世纪经济报道·2025-08-21 13:47

Core Viewpoint - The article discusses the establishment and implementation of new policy financial tools aimed at stabilizing investment and promoting economic growth, with a focus on emerging industries and infrastructure projects [1][2][8]. Group 1: Overview of New Policy Financial Tools - Since May 2023, various regions have been conducting policy briefings and project preparation meetings regarding new policy financial tools, with a total funding scale of 500 billion yuan [1]. - The new policy financial tools are designed as "quasi-fiscal" instruments, with project lists curated by the National Development and Reform Commission (NDRC) and financing provided by policy banks [2][10]. - The tools will focus on sectors such as digital economy, artificial intelligence, low-altitude economy, consumption, green and low-carbon initiatives, agriculture, rural development, transportation logistics, and urban infrastructure [1][2]. Group 2: Project Preparation and Implementation - Multiple regions have completed project reserves, with Hubei and Guangdong actively matching projects from their planning libraries to align with national strategies [4][5]. - In Shanxi, 11 projects have been reserved with a total investment of 13.369 billion yuan, requiring 2.186 billion yuan from the new policy financial tools [5][6]. - Nanjing's Pukou District has added 12 new projects with a total investment of 4.2 billion yuan, focusing on high-tech and green projects [6]. Group 3: Government Support and Economic Context - The central government has signaled an increase in investment efforts, with the State Council emphasizing the need for effective investment to adapt to changing demands [1][11]. - Investment data from June and July 2023 indicates a need for stronger measures to stabilize investment, as fixed asset investment growth has slowed to 1.6% [11]. - The new policy financial tools are expected to help address capital shortages for project construction and stimulate effective investment, particularly in infrastructure and technology innovation [11].