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LOGO Of Hubei Yingpai Power Technology Co., Ltd.
LOGO Of Hubei Yingpai Power Technology Co., Ltd.

 

  • Home
  • About Us 
    • WHO WE ARE
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    • WHY CHOOSE US
    • OUR SOLOGAN
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    • Diesel Generator Set
    • Marine Diesel Generator Set
    • Gas Engine Generator Set
    • Diesel Engine Driven Equipment
    • Diesel Engine Power Pack
    • Explosion Proof Diesel Engine
    • Diesel Engine Spare Part
  • News
  • Contact
  • …  
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      • OUR HISTORY
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      • Diesel Generator Set
      • Marine Diesel Generator Set
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LOGO Of Hubei Yingpai Power Technology Co., Ltd.

China's construction machinery and internal combustion engine industries will grow rapidly in 4th Quater 2023-2024

 

Under background of China central government 1 trillion yuan bonds & 6th Session of the Standing Committee of the Fourteenth National People's Congress is authorized to issue in advance new general debt ceiling Within 60% of the new local government debt limit (including general debt limit and special debt limit) in September 2023 to 2027's

· Industry News And Trend

As China central goverment & Local goverment is authroized to ad news bonds, it will be a big change, it will bring all sides benefits, central goverment/ local goverment, financial institution,business entities(like construction machinery and internal combustion engine industries ).

Goverment increase spending on pupblic projects,echange local goverment high debt, prevent and resolve local government debt risks and better leverage,local goverment use low rate bond tosupport local economic development.

China Central Goverment Measure

China's additional 1-trillion-yuan (about 139.3 billion U.S. dollars) government bonds to be issued in the fourth quarter,Half of the funds raised are planned for use this year.

And the other half for next year. This means that the effects of pro-growth policies will last at least throughout the first half of 2024, All of the funds will go to local governments through the transfer payment mechanism, which analysts say will ease fiscal strains on local governments and optimize the country's debt structure.

It will be used in eight major areas: post-disaster recovery and reconstruction, key flood control and management projects, natural disaster emergency response capacity improvement projects, other key flood control projects, irrigation area construction and reconstruction and key soil erosion control projects, urban drainage and flood prevention capacity improvement actions, and key natural disaster comprehensive Prevention and control system construction projects, high-standard farmland construction in Northeast China and disaster-stricken areas in the Beijing-Tianjin-Hebei region.

 

Local Goverment Measure

In terms of local government debt, the 6th Session of the Standing Committee of the Fourteenth National People's Congress decided to authorize the State Council to add 60% of the local government debt limit (including the general debt limit and the special debt limit) in the current year within the authorization period. the new local government debt limit for the next year will be issued in advance. The authorization period is from the date of announcement of the decision until to December 31, 2027.

It ensures the funding needs of major projects in key areas, gives full play to the important role of government bond funds in stabilizing investment, expanding domestic demand, and remedying weakness, and maintaining sustained and sound development of economy. In accordance with the decisions and arrangements of the Party Central Committee, and in accordance with the economic situation and macro-control needs, the State Council The specific amount of the new local government debt limit for the next year is determined and issued in advance in the fourth quarter of each year. The situation of provinces, autonomous regions and municipalities issued in advance shall be reported to the Standing Committee of the National People's Congress for record in a timely manner.

 

 

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