Core Viewpoint - The new guidelines for government and social capital cooperation (PPP) projects aim to enhance the integration of local government bonds and PPP projects, injecting new momentum into existing infrastructure projects [1][2]. Group 1: Policy Innovations - The guidelines allow local governments to use general and special bonds for funding eligible PPP projects, breaking the previous isolation between special bonds and PPP projects [2][3]. - The new rules require local governments to include operational subsidies for existing projects in budget management, enhancing market confidence and facilitating the resolution of financing issues for social capital [2][5]. Group 2: Implementation and Management - The guidelines emphasize that current governments must take responsibility for existing projects, ensuring contract execution is included in performance evaluations [3][5]. - A differentiated approach is proposed for various types of PPP projects, with specific strategies for projects nearing completion and those lagging behind [4][6]. Group 3: Financial Support and Risk Management - Financial institutions are encouraged to support ongoing projects in a market-oriented manner, ensuring timely loan disbursement based on project needs [4][5]. - The guidelines stress the importance of debt management, prohibiting local governments from exceeding legal borrowing limits while promoting sustainable development of the PPP model [5][6]. Group 4: Long-term Mechanisms and Performance Improvement - The ongoing legislative efforts aim to create a stable and transparent environment for PPP projects, addressing issues related to bidding and procurement laws [6][7]. - Performance management reforms and optimized special bond management mechanisms are expected to provide sustainable financial support for PPP projects [6][7]. Group 5: Market Impact - The new regulations are anticipated to revitalize stalled projects and enhance market activity, with a focus on efficient allocation of resources [5][7]. - The integration of local debt and PPP projects is expected to establish a long-term mechanism for coordinated development, supporting economic stability and modern infrastructure construction [7].

《意见》提出保障在建项目顺利建设、推动已运营项目平稳运行、强化政策支持、加强组织保障等四方面主要内容。 在保障在建项目顺利建设方面，《意见》明确"分类分级推进实施"，地方政府要根据经济社会发展需要、项目性质和财力 状况，按照轻重缓急合理排序，优先实施具有一定收益的项目，持续保障项目建成完工。对接近完工的项目，要抓紧推进建 设、及时验收决算、及早投入运营。对推进缓慢的项目，要进一步论证建设内容，研究压缩实施规模、优化建设标准、调整配 套建设内容等，减少不必要建设成本，相关程序严格按照《政府投资条例》《企业投资项目核准和备案管理条例》等有关规定 执行，原则上不得超出已核定概算总投资。政府方、社会资本方要及时足额缴纳项目资本金。2024年底前未开工的项目原则上 不再采取PPP存量项目模式实施。 本报讯 （记者韩昱）财政部8月20日发布消息称，日前，国务院办公厅转发财政部《关于规范政府和社会资本合作存量项 目建设和运营的指导意见》（以下简称《意见》）的通知，提出规范政府和社会资本合作（PPP）存量项目建设和运营，支持 提升公共服务和民生保障水平。 （编辑 张昕） 在强化政策支持方面，《意见》明确"加大财政支持力度"， ...

《指导意见》表示，鼓励支持社会资本方、金融机构、政府方平等沟通、互惠让利，科学优化PPP存量 项目实施内容、合作期限、融资利率、收益指标等要素，共同降低项目运营成本，提高公共服务供给效 率，实现持续稳健运营。社会资本方要持续提高项目公司运营专业化水平，合理压减运营成本；结合项 目实际情况，有效提升项目收益。鼓励金融机构与社会资本方平等协商，合理优化融资结构，支持项目 持续稳健运行。政府方要与社会资本方平等协商，合理调整项目投资回报率、资金折现率等指标，适当 延长合作期限，建立运营成本控制机制，平滑地方财政支出。 《指导意见》要求各地，优先实施具有一定收益的项目，持续保障项目建成完工。对接近完工的项目， 抓紧推进建设、及时验收决算、及早投入运营。对推进缓慢的项目，研究压缩实施规模、优化建设标 准、调整配套建设内容等，减少不必要建设成本，原则上不得超出已核定概算总投资。2024年底前未开 工的项目原则上不再采取PPP存量项目模式实施。金融机构按照市场化、法治化原则客观评估，依法合 规积极支持在建项目融资。优化信贷审批流程，不得无故终止，不得要求地方政府或相关部门出具承诺 或证明文件。 对符合条件的在建项目，地方政 ...