On December 16, the reporter of economic information daily learned from the regular policy briefing held by the state information office that as of December 15, 3.42 trillion yuan of new special bonds had been issued, accounting for 97% of the issued amount. The issuance of bonds in the whole year was basically completed. The Ministry of finance has issued a quota of 1.46 trillion yuan for new special bonds in 2022 to all localities in advance. Next year, the special bond funds will be mainly used in nine directions: transportation, energy, agriculture, forestry, water conservancy and ecological environmental protection. The recent central economic work conference proposed that active fiscal policies should improve efficiency and pay more attention to accuracy and sustainability. We should ensure the intensity of fiscal expenditure and speed up the progress of expenditure. Cross cyclical and counter cyclical macro-control policies should be organically combined. The executive meeting of the State Council also proposed to issue some special bond lines in 2022 in advance. Vice Minister of Finance Xu Hongcai said that in accordance with the requirements of the central economic work conference and the executive meeting of the State Council, with the authorization of the Standing Committee of the National People's Congress and the consent of the State Council, the Ministry of finance has recently issued a new special debt limit of 1.46 trillion yuan in 2022 to all localities in advance. He said that instead of "one size fits all" in quota allocation, he gave full consideration to the needs and construction conditions of local project funds. More points will be given to places with more project funds and good construction conditions, and less points will be given to places with more project funds and better construction conditions. According to reports, in order to further strengthen guidance, promote the issuance of quotas in advance and form physical workload as soon as possible, the Ministry of Finance and the development and Reform Commission held a special video conference on December 14, requiring local governments to focus on the following work: first, pay close attention to distribution. In principle, the provincial government shall allocate all the quota issued in advance to cities and counties before the end of the year. The quota allocation shall match the situation of the projects that can be implemented by cities and counties in the first quarter of next year, correspond to the projects confirmed by audit, and give more points where there are many projects with implementation conditions. Second, appropriate concentration. The quota should be inclined to provinces and cities with many central and provincial key projects, and resolutely do not "sprinkle pepper". Third, pay attention to risk prevention. The quota should focus on areas with low debt risk. On the premise of strictly implementing risk prevention measures, the quota shall be reasonably arranged by comprehensively considering the risk situation in high-risk areas. The quota shall be reasonably arranged according to a series of factors such as the risk situation, the conditions for the implementation of the project and whether it belongs to a key project. Fourth, strengthen constraints. Where conditions permit, timely incorporate the revenue and expenditure of special bonds issued in advance into the budget at the beginning of the year, and strengthen budget constraints. Song Qichao, head of the budget department of the Ministry of Finance and director of the government debt research and evaluation center, introduced the key direction of special bond support in 2022, which is mainly reflected in three focuses: first, focus on the short board field. Focus on supporting major projects with obvious economic and social benefits and strong driving effect. Second, focus on key directions. In order to maintain the continuity and stability of the policy and coordinate the connection of macro policies this year and next, the special bonds in 2022 will be mainly used in nine major directions: first, transportation infrastructure, second, energy, third, agriculture, forestry and water conservancy, fourth, ecological environmental protection, fifth, social undertakings, sixth, logistics infrastructure such as urban and rural cold chain, and seventh, infrastructure of municipal and industrial parks, The eighth is a major national strategic project, and the ninth is a indemnificatory housing project. Third, focus on key projects. Further strengthen the guidance to local governments and require local reserve projects to belong to entity government investment projects with obvious economic and social benefits, expected by the masses and to be done sooner or later. At the same time, we should give priority to supporting projects included in the outline of the national 14th five year plan and key projects included in the national major regional development strategies, and actively give full play to the supporting role of special bonds in major plans and strategies. In addition, we should increase support for major projects such as water conservancy and urban pipe network construction. (outlook new era)