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Financial Prediction [2018] No. 209

Provinces、Autonomous Region、Municipality、Finance Department (Bureau) of the Municipality with separate state planning，Financial Bureau of Xinjiang Production and Construction Corps:

In recent years，In order to implement the Party Central Committee、Decision-making and deployment of the State Council，According to the "Budget Law of the People's Republic of China"、"Opinions of the State Council on Strengthening the Management of Local Government Debt" (Guofa [2014] No. 43) and other laws and policy regulations，The Ministry of Finance continues to promote the disclosure of local government debt information，Obvious results have been achieved。

In accordance with the requirements of the "Notice of the dafabet casino mobile appGeneral Office of the State Council on Issuing the Key Points of Government Affairs Disclosure in 2018" (Guobanfa [2018] No. 23)，To further improve the disclosure of local government debt information，Enhance the transparency of local government debt information，Consciously accept supervision，Prevent local government debt risks,We have formulated the "Measures for the Disclosure of Local Government Debt Information"。Now issued to you，Please follow the instructions。

　Notice hereby.

Ministry of Finance

December 20, 2018

Attachment:

Measures for Disclosure of Local Government Debt Information (Trial)

Article 1 [Purpose and Basis] is to regulate local government debt management in accordance with the law，Effectively enhance the transparency of local government debt information，Consciously accept supervision，Prevent local government debt risks,According to the "Budget Law of the People's Republic of China"、"Regulations of the People's Republic of China on Government Information Disclosure"、"Opinions of the State Council on Strengthening the Management of Local Government Debt" (Guofa [2014] No. 43) and other laws, regulations and institutional provisions，Develop these measures。

Article 2 [Scope of Application] These Measures apply to the disclosure of local government debt information by financial departments at all levels above the county level。

The term “local government debt” as mentioned in these Measures includes local government general debt and local government special debt;Local government debt information includes local government debt limits within the public scope of budget and final accounts、Local government bond issuance beyond the disclosure of balance and other information as well as budget and final accounts、Duration、Major matters and other related information;Major events refer to matters that may cause local government general bonds、The value of special bond investment has increased or decreased，Related matters affecting the legitimate rights and interests of investors。

Article 3 [Principle of Disclosure] Disclosure of local government debt information should follow the following principles:

(1) Adhere to openness as the norm、Undisclosed as an exception;

(2) Insist on who produces, who is responsible, and who publishes;

(3) Insist on highlighting dafabet casino mobile appkey points，True、Accurate、Complete、Timely disclosure;

(4) Adhere to promoting reform through openness、Promote standards through openness，Promote the modernization of the national governance system and governance capabilities。

Article 4 [Public Channel] Local Government Debt Limits within the Disclosure of Budget and Final Accounts、Balance、Usage arrangements, principal and interest repayment and other information should be disclosed on the portal websites of local governments and financial departments。The financial department has not established a portal，A column should be set up on the government portal website at the same level for disclosure。

Local government bonds and other information beyond the scope of budget and final accounts should be kept in the provincial finance department、Issuance venue portal is public。The Ministry of Finance sets up a local government debt information disclosure platform or column，Support local financial departments to disclose information related to local government debt (bonds)。

Article 5 [Disclosure of budgets and final accounts] Local financial departments at or above the county level (hereinafter referred to as “local financial departments at all levels”) shall disclose local government debt limits along with budgets and final accounts、Balance、Usage arrangements, principal and interest repayment and other information。

(1) Disclose the previous year’s region along with the budget、The debt limit and balance of local government debt at this level and the region it belongs to (or the estimated execution amount of the balance)，As well as the issuance, principal and interest payment (or expected number of executions) of local government bonds (including refinancing bonds) in the region and level in the previous year、This year’s local government bond principal and interest repayment budget, etc.。

(2) Disclose the debt limit of the region and local governments at the same level in the current year along with the budget adjustment、Arrangements for the use of new local government bond funds at this level, etc.。

(3) The region will be disclosed with the final accounts at the end of the previous year、Debt limit of local governments at this level and their respective regions、Final balance number，Local government bond issuance、Final repayment of principal and interest，And arrangements for the use of bond funds, etc.。

Article 6 [Disclosure of Bond Issuance Arrangements] The provincial finance department shall disclose the issuance arrangements of new local government bonds and refinancing bonds in the region for the next month before the 20th of each month，Encourage qualified regions to disclose local government bond issuance arrangements for multiple months at the same time。

Article 7 [Disclosure of new general bond issuances] Provincial financial departments should issue new general bonds before issuing new general bonds，Disclose the following information more than 5 working days in advance:

(1) Economic and social development indicators。Including the region’s GDP、Per capita disposable income of residents, etc.;

(2) General public budget situation of local governments;

(3) General debt situation。Including the general debt limit and balance of the region、Regional distribution、Term structure, etc.;

(4) General bond information to be issued。includes size、Expiration、Project、Debt repayment fund arrangements, etc.;

(5) Third-party evaluation materials。Including credit rating reports, etc.;

(6) Other information that needs to be disclosed as required.

The provincial financial department shall issue new general bonds within 2 working days，Announcement of bond issuance code、Interest rate and other information。

Article 8 [Disclosure of New Special Bond Issuance] Provincial financial departments shall issue new special bonds before issuing new special bonds，Disclose the following information more than 5 working days in advance:

(1) Economic and social development indicators。Including the region’s GDP、Per capita disposable income of residents, etc.;

(2) Budget status of local government funds。Including this region、Receipts and expenditures of local government funds at this level or using special bond funds for city and county governments、The budget revenue and expenditure of local government funds corresponding to the proposed issuance of special bonds;

(3) Special debt situation。Including local special debt limit and balance、Regional distribution、Term structure, etc.;

(4) Information on special bonds to be issued。includes size、Basic information such as term and repayment method;

(5) Project information corresponding to the special bonds to be issued。Includes project overview、Annual investment plan、Project funding source、Expected return and financing balance plan、Potential risk assessment、Responsibilities of competent departments, etc.;

(6) Third-party evaluation information。Including financial evaluation report (focusing on the project's expected income and financing balance assessment)、Legal opinion、Credit rating report, etc.;

(7) Other information that needs to be disclosed as required.

The provincial financial department shall issue new special bonds within 2 working days，Announcement of bond issuance code、Interest rate and other information。

Article 9 [Disclosure of Refinancing Bond Issuance] Provincial financial departments should issue the refinancing bond before issuance，Disclose the issuance scale of refinancing bonds and the name of the original bonds more than 5 working days in advance、Code、Issue size、Maturity principal size and other information。

Article 10 [Disclosure of Duration Period of General Bonds] Local financial departments at all levels shall organize and carry out information disclosure work on the duration of general bonds in their respective regions and levels，The departments that supervise and guide the use of general bond funds shall disclose the following information no later than the end of June each year:

(1) General bond fund balance as of the end of the previous year、Interest rate、Expiration、Regional distribution, etc.;

(2) Usage of general bond funds as of the end of the previous year;

(3) Construction progress of general bond projects as of the end of the previous year、Operation status, etc.;

(4) Other information that needs to be disclosed as required.

Article 11 [Disclosure of Duration Period of Special Bonds] Local financial departments at all levels shall organize and carry out information disclosure work on the duration of special bonds in their respective regions and levels，The departments that supervise and guide the use of special bond funds shall disclose the following information no later than the end of June each year:

(1) Usage of special bond funds as of the end of the previous year;

(2) Construction progress of projects corresponding to special bonds as of the end of the previous year、Operation status, etc.;

(3) Income from special bond projects and corresponding assets as of the end of the previous year;

(4) Other information that needs to be disclosed as required.

Article 12 [Disclosure of Violations and Violations] Involving Accountability for Violations and Violations of Debt Guarantees，Financial departments at all levels should disclose the accountability results within 20 working days after receiving the accountability decision。

Article 13 [Disclosure of major matters of general bonds] During the duration of general bonds，Major events that may affect the general public budget revenue of areas using general bond funds，The financial department shall propose specific remedial measures in accordance with the "Notice of the dafabet casino mobile appGeneral Office of the State Council on Issuing the Emergency Response Plan for Local Government Debt Risks" (Guoban Han [2016] No. 88) and other relevant regulations，Report to the provincial finance department after approval by the government at the same level，And be announced by the provincial financial department or informed to general bondholders in an appropriate manner。

Article 14 [Disclosure of major matters of special bonds] During the duration of special bonds，The corresponding project has major events that may affect its ability to balance income and financing，The departments using special bond funds and the financial department shall propose specific remedial measures in accordance with the "Notice of the dafabet casino mobile appGeneral Office of the State Council on Issuing the Emergency Response Plan for Local Government Debt Risks" (Guo Ban Han [2016] No. 88) and other relevant regulations，Report to the provincial finance department after approval by the government at the same level，And the provincial financial department shall announce it or notify the special bond holders in an appropriate manner。

Article 15 [Disclosure of Adjustment of Bond Fund Usage] It is really necessary to adjust the use of bond funds during the duration of local government bonds，After completing relevant procedures as required，The provincial financial department shall make an announcement or notify bondholders in an appropriate manner。

Article 16 [Financial and Economic Information] When local financial departments at all levels disclose government debt information，Should be based on the information disclosure progress of the government at the same level and its relevant departments，Also provide the government work report at this level、Budget and final accounts report、Information such as budget execution and other financial revenue and expenditure audit reports or their website for future reference。

Article 17 [Government Debt Management System] Local financial departments at all levels shall promptly disclose the regulations on the government debt management system in their region。

Article 18 [Division of Responsibilities] The Ministry of Finance is responsible for guidance、Supervise the disclosure of local government debt information nationwide。Local financial departments at all levels are responsible for organizing and implementing government debt information disclosure in their respective regions and levels，Guidance、Supervise and coordinate the debt information disclosure work of departments using bond funds at the same level and lower-level governments。

Article 19 [Performance Evaluation] Local financial departments at all levels must include the disclosure of local government debt information into the scope of local government debt performance evaluation，Strengthen the application of performance evaluation results。

Article 20 [Daily Supervision] The Ministry of Finance is stationed in each province、Autonomous Region、Municipality、The Office of Financial Supervisory Commissioner of Cities with separate state planning should include the disclosure of local government debt information into the scope of daily supervision，Supervise and rectify problems found。

Article 21 [Legal Liability] Failure to disclose local government debt information as required，Should be in accordance with the "Budget Law of the People's Republic of China"、The "Regulations of the People's Republic of China on Government Information Disclosure" and other laws and regulations，Ordered to correct，The directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the law and regulations。

Article 22 [Social Supervision] Citizens、Legal persons or other organizations believe that relevant departments do not fulfill their obligation to disclose local government debt information in accordance with the law，You can report it to the financial department at the same or higher level。After receiving the report, the financial department shall handle it in accordance with laws and regulations。

Article 23 Province、Autonomous Region、Municipality、The financial department of the city under separate dafabet online betting websitestate planning may stipulate according to these measures，Develop implementation details based on the actual situation in the region。

Article 24 Measures for disclosing information on loans from the central government to local international financial organizations and foreign governments shall be separately formulated by the Ministry of Finance。

Article 25 The Ministry of Finance is responsible for the interpretation of these Measures.

Article 26 These Measures will come into effect on January 1, 2019。