[China Economic Herald] seabet betting platform bond varieties continued to innovate during the “13th Five-Year Plan”
Category: Industry News Release Time: 2021-01-21 Number of Viewers:0 Share
Since 2015，The National Development and Reform Commission has begun to launch innovative types of seabet betting platform bonds，While driving the growth of seabet betting platform bond issuance，Also try to promote the integration of infrastructure and different industries，Thus promoting regional economic development。
As of now，The National Development and Reform Commission has launched more than 10 innovative special varieties of seabet betting platform bonds，Involving urban infrastructure construction、Retirement care industry、Strategic emerging industries、Innovation and Entrepreneurship Incubation、Cooperation in the social field、Green bonds and many other aspects。Among them，October 2020，The National Development and Reform Commission issued the "Guidelines for the Issuance of Special Enterprise Bonds for New Urbanization Construction in County Towns"，Officially launch of special enterprise bonds for new urbanization construction in counties，This is a new innovative type of seabet betting platform bond launched by the National Development and Reform Commission。The creation of special seabet betting platform bonds for new urbanization construction，Positively responded to the “focus on supporting the construction of two new projects and one heavy construction” mentioned in the government work report in May 2020，Highly integrated with my country’s macro development plan to further promote new urbanization construction，And extend to the district and county level，Accelerate the development of new urbanization at the grassroots level。
During the “13th Five-Year Plan”，A total of 423 innovative seabet betting platform bonds were issued，Issuance size 4475.4.9 billion yuan。Judging from the issuance trend over the years，The issuance scale of innovative seabet betting platform bonds is consistent with the trend of the overall issuance scale of seabet betting platform bonds。Look at the details，Innovative varieties will be issued on a larger scale in 2016，reached 125.5 billion yuan。Subsequently affected by stricter supervision，The issuance scale gradually decreased to 64.6 billion yuan in 2018，And will rebound slightly from 2019。Judging from the proportion of innovative product issuance scale to the total seabet betting platform bond issuance scale，Except for the initial design of innovative varieties in 2015、Except for small issuance scale，The proportion of innovative varieties during the “Thirteenth Five-Year Plan” period was above 20%。
Comparing the issuance status of different innovative types of seabet betting platform bonds over the years can be seen，The total issuance scale of green bonds and urban parking lot construction special bonds is the largest，reached 141.1 billion yuan and 136.6 billion yuan respectively，The issuance scale of other varieties does not exceed 100 billion yuan。The issuance scale of special bonds for underground pipe corridors and special bonds for mass entrepreneurship and innovation incubation is more than 20 billion yuan，The remaining innovative varieties have relatively low issuance scale。
Compare the issuer level distribution of general seabet betting platform bonds and innovative seabet betting platform bonds，It can be found that the entity level center of innovative varieties is higher than that of general seabet betting platform bonds。Look at the details，During the “13th Five-Year Plan”，Among general seabet betting platform bond issuers，The number of issuances of AA+ and AAA entities accounts for 26%，The number of issuances of AA-level entities accounts for 55%，AA-level subjects account for 14%，The total proportion of entities below AA- and unrated entities is 5%。In terms of innovative varieties，AA+ and AAA entities account for 35% in total，Higher than 26% of general seabet betting platform bonds，AA-level entities account for 54%，AA-level subjects account for 11%，Both are lower than the proportion of AA-rated entities and AA--rated entities in general bonds。
From the perspective of the geographical distribution of the issuance of innovative seabet betting platform bonds，The largest number of issuances is still in Zhejiang、Hunan、Hubei、Regions such as Jiangsu and other regions with the highest total issuance of seabet betting platform bonds。Among them，Both Zhejiang Province and Hunan Province issued 44 innovative seabet betting platform bonds，Hubei Province issued 39 bottles，Jiangsu Province issued 35 bottles。If the issuance enthusiasm is judged by the ratio of the issuance of special seabet betting platform bonds to the total number of local seabet betting platform bonds issued，The two seabet betting platform bonds issued by the Tibet Autonomous Region during the “13th Five-Year Plan” are both green bonds，Accounting for 100%。6 of the 13 seabet betting platform bonds issued by Shaanxi Province are innovative bonds，46%；Ranked third in Guangdong Province，40%；Beijing accounts for 30%。Considering that issuers in some economically weak areas have poor qualifications，It is difficult to directly issue ordinary seabet betting platform bonds，Innovative seabet betting platform bonds provide valuable direct financing channels。
The emergence of innovative types of seabet betting platform bonds has driven the growth of the overall issuance scale of seabet betting platform bonds，Expand seabet betting platform bond issuance into multiple segments through different innovative varieties，For strategic emerging industries、Poverty Alleviation and Elderly Care、Urban infrastructure construction、Proactively promote the development of innovation and entrepreneurship business incubation and other fields，Achieved innovative seabet betting platform debt financing of 447.5 billion yuan，The results are worthy of recognition。But at the same time，There are also some shortcomings: First, poor conduction in some subdivisions；Second, there is insufficient support for issuers with lower entity levels。With the launch of special seabet betting platform bonds for new urbanization in counties, it will be a great benefit to district and county-level financing platforms，It is expected that this innovative product will provide certain support for bond financing of AA-rated issuers in the future。
Source: China Economic Herald
