Special bonds are a kind of local government bonds, which refer to bonds issued to raise funds for the construction of specific projects. The difference between special bonds (income bonds) and general bonds (ordinary bonds) lies in. The former refers to bonds issued to raise funds for the construction of specific projects, while the latter refers to bonds issued by local governments to alleviate the shortage of funds or solve the temporary shortage of funds.
Chinese name
Special bond
Foreign name
Special bond
Another name
Income bond
function
Local governments regard it as a guarantee for future construction.
quick
navigate by water/air
Latest deployment
classify
Local government bonds are classified according to the purpose of funds and the source of repayment funds, and can usually be divided into general bonds (ordinary bonds) and special bonds (income bonds). The former refers to bonds issued by local governments to alleviate the shortage of funds or solve the temporary shortage of funds, while the latter refers to bonds issued to raise funds to build specific projects. For the repayment of general bonds, local governments usually use local fiscal revenue as a guarantee, while for special bonds, local governments often use the income obtained after the project is completed as a guarantee.
Latest deployment
With the approval of the State Council and filing with the National People's Congress Standing Committee (NPCSC) in accordance with the law, the Ministry of Finance issued the third batch of new local government special bonds in 2020 at the end of April, with a quota of 1 trillion yuan, and all localities have started the preparation for issuance. Together with the first two batches of new local government bonds issued in advance of 654.38+84.8 billion yuan in 2020, the amount of new bonds issued in advance has reached 2.848 billion yuan.
According to the deployment of the the State Council executive meeting, the issuance of special bonds will reach its peak in May and be completed before the end of May.
On May 12, 2020, Guangdong successfully issued a special bond of 71200 million yuan, which was mainly used for the construction of major infrastructure projects in the fields of transportation infrastructure and people's livelihood services, and supported the construction of local public health and epidemic prevention systems.