Xu Hongcai, Vice Minister of finance, said recently that in order to give better play to the positive role of special bonds in stimulating effective investment and stabilizing economic growth, in 2021, the Ministry of finance will increase its support for national major regional development strategies and key projects in the outline of the 14th five year plan, and resolutely not "sprinkle pepper". In 2021, the National People's Congress approved the new amount of special bonds of local governments to be 3.65 trillion yuan, of which the new amount of special bonds for project construction was 3.5 trillion yuan. While reasonably grasping the issuing rhythm, how to effectively use the new bond funds on the "blade" and spend them on the "key"? Xu Hongcai believes that on the one hand, we should reasonably determine the new limit and balance the relationship between steady growth and risk prevention. "When we determine the regional quota, we allocate the quota to the places that should be allocated according to the project preparation, the reasonable calculation of relevant risk indicators and the debt repayment ability." On the other hand, we should strictly control the direction of financial support. Xu Hongcai stressed that it is strictly prohibited to use special bonds for all kinds of buildings and halls, image projects, political achievement projects and all kinds of non-public welfare capital expenditure projects. We should guide local governments to increase their support for major national regional development strategies and key projects in the outline of the 14th five year plan in accordance with the principle of "funds follow projects", resolutely not "sprinkle pepper", and ensure that the direction of financial support is put in place. In addition, as an important starting point for the implementation of active fiscal policy, special bonds must also strengthen daily supervision and management. Xu Hongcai said that the Ministry of finance has taken measures such as penetrating monitoring, full life cycle performance management, normalized verification and the establishment of a punishment mechanism for the illegal use of special bond funds to ensure that the supervision covers all new special bond projects and takes rigid constraints on violations. Xu Hongcai said that in the next step, the Ministry of finance will continue to guide local governments to do a good job in bond issuance and use, give full play to the positive role of special bonds in driving the expansion of effective investment, and promote the economic operation within a reasonable range. (Xinhua News Agency)