The National Development and Reform Commission announced that it will continue to issue ultra-long-term special treasury bonds next year, with a focus on supporting major infrastructure and livelihood projects.

Director of the National Development and Reform Commission (NDRC) Zheng Shanjie announced at a press conference on October 8 that the issuance of ultra-long-term special treasury bonds will continue next year, with a focus on supporting "two major" construction projects. This year, 700 billion yuan in central budgetary investment and 1 trillion yuan in ultra-long-term special treasury bonds have already been allocated for "two major and one new" projects.

The NDRC will advance the allocation of 100 billion yuan in central budgetary investment and 100 billion yuan in "two major" construction project lists for next year to support local governments in accelerating preliminary work. Additionally, the NDRC will study expanding the areas and proportions of special bonds that can be used as capital, and optimize the management of local government special bonds.

To address insufficient domestic effective demand, the NDRC will focus on benefiting people's livelihoods and promoting consumption. It will also intensify support for local governments to carry out debt swaps to resolve debt risks, and urge local governments to complete the issuance of approximately 290 billion yuan in local government special bonds by the end of October.

The NDRC will also standardize administrative law enforcement to prevent arbitrary fines and inspections, and study the extension of certain tax and fee support policies. A coordination mechanism to support small and micro enterprises' financing will be established to enhance the consistency of macroeconomic policy orientation.

Zhao Chenxin, Deputy Director of the NDRC, expressed confidence in achieving the annual economic and social development goals. Over the next five years, the total investment demand for urban gas and other sectors is expected to be around 4 trillion yuan, with priority given to urban renewal and underground pipeline network projects.

Notes:

• "Two major" construction: Refers to major infrastructure and major livelihood projects.
• "Two major and one new": Refers to major infrastructure, major livelihood projects, and new infrastructure.
• Special bonds: Local government special bonds, used for financing specific projects.