（原标题：推进数字化、网络化、智能化新型城市基础设施建设｜营商环境周报） 时政要闻 住建部等九部门：推进新型城市基础设施建设，增强城市运行安全风险监测预警能力 近日，住房城乡建设部等九部门联合发布贯彻落实《中共中央办公厅 国务院办公厅关于推进新型城市 基础设施建设打造韧性城市的意见》行动方案（2025—2027年）（以下简称《行动方案》），推进数字 化、网络化、智能化新型城市基础设施建设，增强城市风险防控和治理能力。 《行动方案》明确，探索推动新一代信息技术与城市基础设施建设深度融合，进一步夯实城市治理数字 底座，筑牢城市安全新防线，创新城市民生服务新模式，培育经济发展新动能，推动城市安全发展，助 力宜居、韧性、智慧城市建设。到2027年年底前，新型城市基础设施建设各项重点任务取得明显进展， 形成一批可复制可推广的经验做法。 《行动方案》细化了各部门落实举措，梳理9大类、32项具体任务。主要内容为： 一是推动实施智能化市政基础设施建设和改造，包括编制并实施设施建设和改造行动计划、探索设施信 息动态更新机制、推进城市生命线安全工程建设、提升重点领域安全运行管理水平。 二是推动智慧城市基础设施与智能网联汽车协同发 ...

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core View of the Report - On September 29, 2025, three new policy-based financial instrument companies were registered, and funds started to be disbursed on the same day. The funds have been disbursed in provinces and cities such as Jiangsu, Zhejiang, Guangdong, Hainan, Guangxi, Fujian, Anhui, Shandong, Sichuan, Chongqing, and Inner Mongolia [2]. 3. Summary by Relevant Catalog Features of the Instruments - Long - term: Some project financing terms are 20 years or 15 - 20 years [2]. - Low - interest rate: The capital interest rate of a project is lower than the current LPR, setting a new record for the lowest financing cost among all financing channels since the group's establishment [2]. Investment Fields - The disclosed project fields include infrastructure areas such as transportation and logistics, green - low - carbon transformation, municipal and industrial parks, as well as scientific and technological innovation fields such as artificial intelligence [3]. Proportion in Total Investment - In some projects, the amount obtained accounts for less than or equal to 10% of the total project investment (less than or equal to 50% of the project capital) [4]. Project Approval Rate - The project approval rate in some areas may be low. For example, in a certain place in Zhejiang, the approval rate from the city to the province is 40%, and from the province to the state is 13% [5]. Disbursement Situation as of October 8 - Multiple projects in various provinces and cities have received new policy - based financial instrument funds, with specific amounts and project details as shown in the table. For example, the Wuxi - Yixing Intercity Rail Transit Project in Wuxi, Jiangsu received 31.99 billion yuan; the Taicang Water Supply Co., Ltd. Expansion and Booster Station Project in Taicang, Jiangsu received 0.2076 billion yuan, accounting for 10% of the total project investment of 2.0766 billion yuan [6].

Group 1 - Company Guizhou Kanshe Ecological Environment Technology Co., Ltd. plans to apply for a bank loan of RMB 2.8 million to support its business development, with the company providing a guarantee of RMB 2.1 million based on its 75% ownership [1] - The company has signed a maximum guarantee contract with the creditor, and this guarantee does not require additional approval from the board or shareholders as it falls within the approved guarantee limits [1] - As of the announcement date, the total guarantee amount provided by the company for its wholly-owned and controlling subsidiaries is approximately RMB 719 million, accounting for 23.97% of the company's audited net assets for 2024 [1] Group 2 - For the year 2024, the revenue composition of the company is as follows: 67.61% from the highway industry, 21.68% from the construction industry, 7.39% from water transport and other industries, 3.01% from the municipal industry, and 0.31% from other businesses [2] Group 3 - The current market capitalization of the company is RMB 2.6 billion [3]

Company Summary - The company, 勘设股份, announced a provision for asset impairment totaling 99.5483 million yuan, which will reduce the total profit in the consolidated financial statements for the first half of 2025 by the same amount [1] - The asset impairment has already been reflected in the company's financial report for the first half of 2025 [1] Industry Overview - For the year 2024, the revenue composition of the company is as follows: 67.61% from the highway sector, 21.68% from the construction sector, 7.39% from water transport and other sectors, 3.01% from the municipal sector, and 0.31% from other businesses [1]

Policy Background - The new PPP mechanism emphasizes the exclusive use of the concession model for projects, focusing on user-pay projects while strictly limiting government-pay and feasibility gap subsidy projects, prioritizing market-based returns [4] Key Audit Points Project Admission Conditions - Projects are limited to those with operational revenue potential, such as transportation, environmental protection, and municipal services, prohibiting disguised debt under the PPP guise [6] - User fees must cover construction and operational costs, with future cash flow forecasts requiring third-party evaluation [7] - A negative list prohibits packaging public welfare projects like schools and hospitals as concession projects [8] Concession Scheme Review - The concession period generally should not exceed 40 years, aligning with industry characteristics and investment recovery cycles [9] - The government does not guarantee minimum returns, placing the primary operational risk on social capital [10] - Competitive bidding is mandatory, ensuring transparency and equal participation for foreign enterprises [11] Fiscal Risk Prevention - New hidden debts are prohibited, and any government payment obligations must be included in the medium-term fiscal plan [12] - Feasibility gap subsidies, if necessary, require joint approval from provincial development and reform commissions and finance departments [13] Full Process Supervision Requirements - Payment is strictly linked to project performance, with deductions for unmet standards [14] - Clear exit mechanisms for social capital and asset disposal methods are required to prevent project failures [15] Policy Impact and Trends Impact on Local Governments - The new mechanism enforces strict project quality control, compelling local governments to select genuinely viable projects and reducing impulsive project launches [17] - Strengthened fiscal discipline will lead to audits and accountability for non-compliant projects [17] Impact on Social Capital - Companies with operational capabilities, particularly in environmental and energy sectors, will find new opportunities, while pure construction firms will gradually exit [18] - Foreign enterprises can participate through competitive processes but must adapt to China's specific concession rules [18] Future Trends - There will be an increase in PPP project proportions in sectors like transportation (toll roads) and renewable energy (charging stations) [19] - Financial tools such as REITs and project revenue bonds may further integrate with the new PPP mechanism [19] Local Implementation Suggestions - Enhance value-for-money assessments and fiscal capacity evaluations to avoid merely "approvable reports" [20] - Engage professional legal teams for contract design, clarifying concession terms and dispute resolution mechanisms [20] - Utilize information platforms for dynamic monitoring of project operational data to provide timely risk alerts [21]

Group 1 - The core viewpoint of the article is the launch of the "Zhengzhou Major Infrastructure Construction Special Action Plan" aimed at accelerating the construction of 75 major infrastructure projects across various sectors including transportation, water conservancy, energy, municipal, and new infrastructure [1][2][3] Group 2 - The plan emphasizes the completion of ongoing projects and the initiation of new ones, creating a continuous and efficient construction momentum [1] - In the transportation sector, the focus is on expediting the construction of rail transit lines 6, 7, and 8, with all projects expected to be completed within the year [1] - The plan includes significant road and waterway projects, such as the completion of the Anlu Expressway and the construction of the G310 highway segment, with various projects set to commence within the year [1][2] Group 3 - In the water conservancy sector, the plan aims to accelerate the implementation of the Qili River flood diversion project and ensure the commencement of the Miaowan Reservoir project by the end of June [2] - The energy sector will see increased investment, particularly in the construction of the Houzihua Pumped Storage Power Station and related projects [2] - Municipal infrastructure projects will be prioritized, including the rapid construction of key roadways and drainage systems to address urban flooding [2] Group 4 - The plan also highlights the importance of new infrastructure, particularly the construction of 5G base stations to enhance network capacity [3]