Development and Reform Commission: Set up special funds to support the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the regional integration development of the Yangtze River Delta.

Securities Times reporter He Jueyuan

On April 19th, the National Development and Reform Commission issued the Special Administrative Measures for Central Budget Investment in Guangdong-Hong Kong-Macao Greater Bay Area Construction and Regional Integration Development of the Yangtze River Delta. The "Measures" clarify that special funds will be directly allocated to the project to support the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the regional integration development of the Yangtze River Delta. Guangdong-Hong Kong-Macao Greater Bay Area Construction supports local government investment projects by direct investment arrangement. The integrated development of the Yangtze River Delta supports qualified government investment projects, and adopts direct investment or capital injection in accordance with relevant regulations.

With regard to the scope and direction of support for Guangdong-Hong Kong-Macao Greater Bay Area's construction, the Measures clearly state that the scope of support for Guangdong-Hong Kong-Macao Greater Bay Area's construction includes nine cities including Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing, with priority given to supporting the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone and the Hengqin Guangdong-Macao Deep Cooperation Zone. The main support directions include: scientific and technological innovation platform with prominent elements in Hong Kong and Macao, non-profit innovation and entrepreneurship platform for youth in Hong Kong and Macao invested by the government, institutions of higher learning jointly run by the mainland and Hong Kong and Macao, infrastructure interconnection projects connecting the mainland and Hong Kong and Macao and their main supporting projects, and projects in other fields that are symbolic or significant to the construction of Guangdong-Hong Kong-Macao Greater Bay Area.

With regard to the scope and direction of support for promoting the integrated development of the Yangtze River Delta, the Measures clearly state that the scope of support for the integrated development of the Yangtze River Delta includes Shanghai, Jiangsu, Zhejiang (including Ningbo) and Anhui, and the main support directions include: facilitating the formation of a new pattern of regional coordinated development, innovating the system and mechanism of integrated development, promoting a higher level of coordinated and open infrastructure interconnection, ensuring joint governance of ecological environment, and public security. Focus on supporting the construction of Anhui Province and inter-provincial cooperation parks and inter-provincial adjacent areas.

the measures clearly state that this special fund will be supported through direct arrangement to the project. Guangdong-Hong Kong-Macao Greater Bay Area Construction supports local government investment projects by direct investment arrangement. The integrated development of the Yangtze River Delta supports qualified government investment projects, and adopts direct investment or capital injection in accordance with relevant regulations; Support qualified enterprise investment projects, and adopt investment subsidies or loan interest subsidies in accordance with relevant regulations.

the "measures" stipulate that the proportion of support for projects in similar fields shall be determined by referring to the existing special support standards for investment in the central budget. There are no special projects that can be referenced. In principle, a single project shall be supported in accordance with the eastern, central and western regions (including the regions where the central and western policies are implemented mutatis mutandis), which shall not exceed 3%, 45% and 6% of the investment in fixed assets (excluding the costs of land acquisition and demolition of the project). If the capital demand of local application is lower than the amount of support calculated according to the above standards, it shall be determined according to the amount of local application.

The Measures require that, under the overall planning of the Guangdong-Hong Kong-Macao Greater Bay Area Construction Leading Group Office and the Leading Group Office for Promoting the Integrated Development of the Yangtze River Delta, the medium and long-term planning scheme for Guangdong-Hong Kong-Macao Greater Bay Area's construction and the integrated development of the Yangtze River Delta and the projects with clear annual work arrangements should be included in the national online examination and approval supervision platform for investment projects (national major construction project library) and the three-year rolling plan in time, and relevant units should be organized to declare special funds according to the requirements for reporting investment plans in the annual central budget.