Xinhua News Agency, Beijing, 9 Nov (Xinhua) -- Title: Directly Hitting "Directly": 2 Trillion Yuan of Central Finance Direct Funds Landed
Xinhua News Agency
The establishment of a special transfer payment mechanism to allow new fiscal funds to reach the grass-roots level of cities and counties and directly benefit enterprises and the people is a major decision and deployment made by the Party Central Committee and the State Council.
In a short period of time, 2 trillion yuan of new central financial funds should go directly to the grass-roots level, how to implement this requirement? The result?
Xinhua News Agency reporters recently went deep into various places, visited enterprises and the people, and faced the relevant responsible persons of state departments and local governments to conduct in-depth investigation of this special move.
Where does the money come from?
In the special year, there is not only the hard task of fighting a decisive battle to get rid of poverty, but also the hard demand to ensure employment and stabilize people's livelihood under the impact of the epidemic, and we must also strive to expand domestic demand, promote innovation, and make up for shortcomings... Every job cannot be lost, and each needs funds to "refuel".
Where does the money come from? It has become a difficult problem that needs to be solved urgently.
On March 27, General Secretary Xi Jinping presided over a meeting of the Political Bureau of the CPC Central Committee. The meeting proposed that the fiscal deficit rate be appropriately raised and special treasury bonds should be issued. In late May, the government work report made two new "1 trillion yuan" arrangements – the fiscal deficit increased by 1 trillion yuan and the issuance of special anti-epidemic treasury bonds by 1 trillion yuan.
In the view of Yang Guangpu, an associate researcher at the Development Research Center of the State Council, the 2 trillion yuan is the "plate" set after considering the government expenditure of various localities under the epidemic, the "four ledgers" of the national full-caliber fiscal revenue and expenditure, and the overall situation of economic operation.
One "1 trillion yuan" was realized by increasing the scale of the fiscal deficit; the other "1 trillion yuan" was raised through special anti-epidemic treasury bonds, both of which adopted a market-oriented fundraising method and were issued by public bidding.
On June 15, the Ministry of Finance held a video conference on the issuance of anti-epidemic special treasury bonds. On the same day, the Ministry of Finance issued a notice to the outside world that on June 18, the first special anti-epidemic treasury bonds will be issued.
The systems and data of the members of the Ministry of Finance and the lower union of the underwriting groups need to be re-commissioned and prepared. "It was three days of all-nighters." Ao Yifan, director of the Central Treasury Bond Registration and Settlement Co., Ltd., said.
On the morning of June 18, the bidding for the first and second phases of anti-epidemic special treasury bonds began, and the bidding prices and bidding volumes were continuously presented in the system...
According to Zhang Hua, deputy general manager of the financial market department of ICBC, as one of the members of the Class A underwriting group, ICBC has won more than 200 billion yuan in the issuance of anti-epidemic special treasury bonds.
Zou Yingguang, a member of the executive committee of CITIC Securities, said that CITIC Securities has widely mobilized various small and medium-sized banks, insurance, funds and foreign investors to participate in bidding by giving full play to the underwriting advantages of securities companies.
Many individual investors are also actively involved. "I want to use this to contribute to the fight against the epidemic." Xu Xiaoying, a Beijing resident who bought 300,000 yuan of special anti-epidemic treasury bonds, said.
At 11:35 on July 30, with Wang Xiaolong, deputy head of the Ministry of Finance's Direct Fund Monitoring Work Leading Group and director of the Treasury Department, pressing the "Confirm Winning Bid" button, the issuance of anti-epidemic special treasury bonds came to a successful conclusion.
To whom was the spending?
Who will the money be spent with? In accordance with the central deployment: all of them should fall on enterprises, especially small and medium-sized enterprises, on social security, minimum security, unemployment, pension and special hardship personnel; it is necessary to establish a real-name ledger of subsidies and subsidies to ensure that the flow direction is clear and verifiable, and it is absolutely not allowed to make false accounts, and it is absolutely not allowed to steal beams and change pillars!
Time is pressing, how can money reach the grassroots level?
A "highway" - a special transfer payment mechanism came into being: under the premise of maintaining the current financial management system unchanged, the main responsibility of local guarantees unchanged, and the authority of fund allocation unchanged, in accordance with the principle of "central cutting, provincial refinement, filing consent, and rapid direct access", improve the relevant fund allocation and supervision procedures.
How is the "cake" accurately distributed?
"Central cutting blocks" - the Ministry of Finance comprehensively considers the degree of economic and social impact on the epidemic in various places, the needs of infrastructure such as public health and anti-epidemic related expenditures, the implementation of the "six guarantees" task, and the financial situation, etc., comprehensively evaluates and calculates, and "cuts" the funds to each province according to relevant factors, indicating special purposes.
"Among them, Hubei Province, which has been most affected by the epidemic, also has the largest allocation of direct funds." Li Jinghui, deputy head of the Ministry of Finance's direct fund monitoring work leading group and director of the Budget Department, said.
"Provincial refinement" - provincial departments in accordance with the requirements of the scope of use of funds stipulated by the higher-level departments, refine the plan for the allocation of funds to cities and counties.
"Filing consent" - The provincial department will report the detailed fund use plan to the Ministry of Finance for filing and approval.
"Fast and direct" - After the filing and consent, the provincial financial department will direct the funds to the grass-roots level of the city and county for a limited time.
Multi-departmental emergency action, fast action.
"The Ministry of Finance has taken the lead in establishing an inter-ministerial special working mechanism to strengthen various coordination and information sharing with the Ministry of Civil Affairs, the Ministry of Human Resources and Social Security, the People's Bank of China, the National Audit Office, the State Administration of Taxation and other relevant departments. Localities have also established relevant working mechanisms at the same time. Xu Hongcai, vice minister of finance and head of the leading group for direct fund monitoring, said.
How to "manage the funds with your eyes wide open"?
Xu Hongcai introduced that the Ministry of Finance innovated the construction of the system, began to build a system covering the whole process of fund allocation, allocation, use and supervision, and urgently built a fund monitoring network.
On the evening of June 30, more than 15,800 people in the national financial system were online at the same time! Financial departments at all levels have simultaneously promoted the introduction of direct fund indicators and the reception, bookkeeping, distribution and distribution of work.
On the morning of July 1, China's first direct financial fund monitoring system was successfully operated!
"We spent more than 20 days to build a 'clairvoyance' with full capital coverage and full chain monitoring." Pointing to the system on the screen, Wang Xiaolong told reporters.
On July 13, direct funding reached nearly 100% at the grassroots level from the provincial level. "It took only more than 20 days for this fund to reach the city and county, and in previous years it generally took more than 100 days." Yuan Qinghai, executive monitoring division of the Treasury Department of the Ministry of Finance, said.
Provincial finances in various localities should be good "gods of wealth" and not "throwing their hands in charge".
"We demand that no funds be arranged at the level of the autonomous region, and at the level of all prefectures and cities, and all of them must be distributed to the grass-roots level of counties and cities." Lu Tong, director of the Treasury Department of the Xinjiang Uygur Autonomous Region Department of Finance, said.
Is it spent well?
"Direct funding ensures that our teachers' salaries are paid in full." Wu Yan, a teacher at the fourth primary school in Anping County, Hebei Province, said.
"We will directly invest in the transformation of the tablet production line, which can increase the annual production capacity by 100 million pieces." Ma Zengsheng, deputy general manager of Shandong Xinyi Pharmaceutical Co., Ltd., said.
"The direct funds were used for the information construction of the expansion project of the China-Europe express train assembly center." Zhao Yi, general manager of Xinjiang International Dry Port IOT Information Technology Co., Ltd., said.
In Hebei Xiong'an New Area, Xiong'an Station Hub Area and other 15 key projects construction ushered in 10 billion yuan of anti-epidemic special treasury bond support;
In Wuhan, Hubei Province, 4.726 billion yuan of direct funds were used to support the reconstruction and expansion of hospitals in 11 central urban areas and the construction of primary medical and health service systems;
……
In the investigation of various places, the reporter saw one scene after another of direct funds landing and achieving results.
"Direct funds are the 'timely rain', 'cardiotonic agent' and 'stabilizer' in the special period, which provides strong support for the local government to do a good job in the 'six stability' and 'six guarantees'." Liu Yunmei, chief accountant of the Department of Finance of Guangdong Province, said.
"The effect of the direct policy is becoming more and more obvious." Pan Fenghua, director of the Office of the Ministry of Finance's Direct Fund Monitoring Leading Group, said that as of the end of October, in addition to 300 billion yuan to support the implementation of tax reduction and fee reduction policies, 1.7 trillion yuan of direct financial funds were 1.695 trillion yuan, and the actual expenditure was nearly 1.2 trillion yuan.
0.7%！ China's economic growth rate in the first three quarters of this year turned positive. "The economic stability is recovering, and there is a key boost to direct funds." Yang Zhiyong, vice president of the Chinese Academy of Social Sciences' Institute of Financial and Economic Strategy, said.
Direct funds are related to the people of enterprises and the development of the country, and we must resolutely manage and use them well.
Red and yellow lights are constantly flashing, prompting the suspected illegal use of direct funds in various places - in the Ministry of Finance's Treasury Department's Executive Monitoring Department, the reporter saw the direct fund monitoring system that is prompting early warning.
Huang Jiamin of the Enforcement and Monitoring Department of the Treasury Department of the Ministry of Finance demonstrated to reporters that this system "tailor-made" early warning rules for different types of funds can automatically warn of a variety of violations.
"For the first time, the release and monitoring of funds achieve 'same frequency resonance'." Pan Fenghua said: People's congress organs, auditing departments, and financial supervision departments at all levels in various localities have also carried out all-round supervision and control based on the monitoring system.
"The overall implementation of the direct financial fund mechanism is better. The survey found that there are still some problems such as slow expenditure progress and irregular allocation of capital expenditure in a few areas. However, governments at all levels are further grasping progress, grasping standards, and constantly improving and perfecting. Yang Guangpu said.
A wider range of "direct access" is already being actively explored.
"We are working with the Treasury Department, the Information Network Center and other departments and bureaus to speed up the summary of the effective practices in this direct visit, and actively ask questions at the grassroots level." In the next step, the scope of funding and work programme of the Direct Access Mechanism will be studied and proposed for next year. Liu Yanbo, General Department of the Budget Department of the Ministry of Finance, said.
The direct fund monitoring system will also be "upgraded". Wang Jianxun, deputy head of the Ministry of Finance's Direct Fund Monitoring Work Leading Group and director of the Information Network Center, introduced that the Ministry of Finance will work with relevant departments to start system upgrading and transformation according to the needs of the direct access mechanism next year, improve the carrying capacity of the system and the level of data analysis, and further promote the open sharing of data between departments.
"The implementation of the direct access mechanism is a review of the government's governance capabilities and a major embodiment of the improvement of the state's ability to manage money and use money." Yang Zhiyong said that in the future, we can continue to explore, starting from the interests of the people, to create more policy "through trains" and "highways", to reform and innovate "acceleration", to achieve "direct access" to benefit enterprises and the people. (Reporters Shen Cheng, Wu Yu, Wang Kun, Dong Boting, Lü Guangyi, Wang Yang, Zhang Xiaolong, Hu Nayun)
Source: Xinhua Net