Draft description

1、 Description of local government debt

（1） The provincial government debt in 2021.

1. Provincial government debt limit and balance. According to the budget law and the relevant provisions of the State Council on strengthening the management of local government debt, the balance of local government debt is subject to limit management, and the annual limit is equal to the limit of the previous year plus the limit of the current year (or minus the limit of the current year). In 2020, the Ministry of Finance approved the debt limit of local governments in our province of 1900.714 billion yuan, including general debt limit of 790.098 billion yuan and special debt limit of 1110.616 billion yuan. The Ministry of Finance approved that the new limit of our province in 2021 was 181.6 billion yuan, of which the general debt limit was 29.7 billion yuan and the special debt limit was 151.9 billion yuan. According to the above method, the local government debt limit of our province in 2021 is 2082.314 billion yuan, of which the general debt limit is 819.798 billion yuan and the special debt limit is 1262.516 billion yuan. By the end of 2021, the balance of local government debt in our province is expected to be 1896.376 billion yuan, including general debt of 716.751 billion yuan and special debt of 1179.625 billion yuan.
2. Repayment of principal and interest of provincial government bonds. In 2021, the provincial government's general bond repayment expenditure was 91.709 billion yuan, and the interest payment and issuance fee expenditure was 24.263 billion yuan; The principal repayment expenditure of special bonds was 98.490 billion yuan, and the interest payment and issuance fee expenditure was 36.574 billion yuan.

   （2） Provincial government debt in 2021.

3. Provincial government debt limit and balance. In 2021, the debt limit of provincial local governments was 107.867 billion yuan, of which the general debt limit was 83.368 billion yuan and the special debt limit was 24.499 billion yuan. By the end of 2021, the debt balance of provincial local governments is expected to be 70.553 billion yuan, including general debt of 51.865 billion yuan and special debt of 18.688 billion yuan.
4. Payment of principal and interest of provincial government bonds. In 2021, the expenditure of general bond repayment of provincial local governments was 8.808 billion yuan, and the expenditure of interest payment and issuance fees was 1.814 billion yuan; There was no principal repayment expenditure for special bonds in that year, and the expenditure on bond interest payment and issuance fee was 436 million yuan.
5. Issuance of local government bonds. In 2021, Jiangsu Province issued 370185 million yuan of government bonds, including 178.7 billion yuan of new bonds (28.9 billion yuan of general bonds, 149.8 billion yuan of special bonds) and 191.485 billion yuan of refinancing bonds. Among the new debt limits, general debt of 800million yuan and special debt of 2.1 billion yuan have not been issued yet, mainly because the Ministry of Finance issued them on December 10, 2021. According to the government bond issuance process and specific work requirements, they cannot be implemented and issued before the end of the year. After being approved by the Ministry of Finance and reported to the provincial government for approval, they will be allocated to specific projects together with the limit issued in advance in 2022, and then issued.

   （3） The provincial government debt was included in the budget at the beginning of the year in 2022.

6. Revenue budget. The general debt revenue of local governments in the province is 121.726 billion yuan; The income from special debt was 143.683 billion yuan.
7. Expenditure budget. The general debt repayment expenditure of local governments in the province was 112.846 billion yuan, and the expenditure on interest payment and issuance fees was 24.431 billion yuan; Special debt repayment expenditure was 95.254 billion yuan, and interest payment and issuance fees expenditure was 40.954 billion yuan.

   （4） In 2022, the provincial government debt was included in the budget at the beginning of the year.

8. Revenue budget. The general debt revenue of provincial local governments is 121.726 billion yuan; The income from special debt was 143.683 billion yuan.
9. Expenditure budget. The general debt lending expenditure of provincial local governments was 118.926 billion yuan, the principal repayment expenditure was 3.208 billion yuan, and the interest payment and issuance fee expenditure was 1.802 billion yuan; The special debt refinancing expenditure was 143.683 billion yuan, but there was no principal repayment expenditure in the year, and the interest payment and issuance fee expenditure was 1.116 billion yuan.

   2、 Transfer payment instructions

   （1） Implementation and arrangement of general public budget transfer payments.

   In 2021, the central government implemented a total of 211.122 billion yuan of transfer payment subsidies for the general public budget of our province, including 192.953 billion yuan of general transfer payments and 18.169 billion yuan of special transfer payments. The implementation amount of provincial transfer payment subsidies to cities and counties is 282.351 billion yuan, of which general transfer payment is 220.148 billion yuan and special transfer payment is 62.203 billion yuan.
   In the draft provincial budget for 2022, the central government budgeted 169.623 billion yuan for the transfer payment subsidy income of our province, including 165.389 billion yuan for general transfer payments and 4.234 billion yuan for special transfer payments, which are mainly the amounts received from the central government in advance as of December 31, 2021 (Article 38 of the budget law stipulates that local governments at all levels should incorporate the transfer payment estimates issued by higher-level governments in advance into their own budgets, the same below). The provincial transfer payment subsidy expenditure budget for cities and counties is 275.861 billion yuan, of which general transfer payment is 222.824 billion yuan and special transfer payment is 53.037 billion yuan.

   （2） Implementation and arrangement of budget transfer payment of government funds.

   In 2021, the central government implemented 1.359 billion yuan of transfer payment subsidy income in our province; The implementation amount of provincial transfer payment subsidies to cities and counties is 1.356 billion yuan.
   In the 2022 provincial budget draft, the central government budgeted 1.094 billion yuan for the transfer payment subsidy income of our province (the central government issued the figure in advance), and the provincial transfer payment subsidy expenditure budget for cities and counties was 7.045 billion yuan.

   3、 Explanation of "three public" funds and organ operation funds

   （1） "Three public" funds. It refers to the cost of going abroad on business, the purchase and operation of official vehicles, and the official reception fee allocated to the budget unit in the general public budget. Among them, the expenses for going abroad on business refer to the accommodation expenses, travel expenses, food subsidies, miscellaneous expenses, training expenses and other expenses of the unit going abroad on official business; The purchase and operation costs of official vehicles refer to the purchase and rental costs, fuel costs, maintenance costs, road and bridge tolls, warranty costs, safety incentives and other expenses of the unit's official vehicles; Official reception fee refers to all kinds of official reception expenses paid by the unit according to regulations. According to the requirement of "only reducing but not increasing", the provincial general public budget allocated 383.3 million yuan for "three public services" in 2022, a decrease of 100000 yuan over the budget of the previous year. Among them, the budget for going abroad (Overseas) on business is 64.99 million yuan, a decrease of 20000 yuan, the budget for the purchase of official vehicles is 38.51 million yuan, the budget for the operation and maintenance of official vehicles is 172.82 million yuan, a decrease of 30000 yuan, and the budget for official reception is 106.98 million yuan, a decrease of 50000 yuan. The main reason for the reduction of the "three public" budget is to implement the government's tight living requirements and adhere to strict economy. The implementation of the annual budget will still be strictly controlled.
   （2） Operating expenses of the organ. It refers to the "expenditure on goods and services" allocated to the basic expenditure of administrative and participating units in the general public budget. Specifically, it includes: office and printing expenses, postal and Telecommunications expenses, travel expenses, conference expenses, welfare expenses, daily maintenance expenses, purchase expenses of special materials and general equipment, water and electricity expenses of office buildings, heating expenses of office buildings, property management expenses of office buildings, operation and maintenance expenses of official vehicles and other expenses. According to the requirements of "strict control", the budget for the operation funds of provincial organs in 2022 is 1.689 billion yuan, an increase of 30.14 million yuan over the budget of the previous year, mainly due to the increase in the number of new units and new recruits.

   4、 Description of budget performance management

   We will continue to implement the four-year action plan for the full implementation of budget performance management in Jiangsu Province (2019-2022) and further promote all work.
   （1） Fully implement the ex ante performance evaluation. We will improve the decision-making mechanism for the establishment of special funds, carry out performance evaluation on newly established, expired and extended special funds or major adjustments, and focus on the necessity, feasibility, economy and financial affordability of the establishment of projects.
   （2） Implement the management of major special performance list. Focusing on the major policies and reforms of the provincial Party committee and the provincial government, from the fields of scientific and technological innovation, rural revitalization, green development, people's livelihood security, industrial transformation and upgrading, select projects with strong policy nature and high attention as the annual major special fund performance management list, implement the key performance management in the whole process of performance objectives, performance monitoring, performance evaluation and result application, and drive the improvement of the overall efficiency of fiscal expenditure.
   （3） Continue to explore new areas of management. Continue to choose government investment funds, government and social capital cooperation (PPP), government purchase services, government procurement and other project funds to carry out performance management pilot.
   （4） Promote the integration of budget and performance management. In combination with the requirements of the integrated construction of budget management, corresponding to the full life cycle management of budget project reserve, preparation, implementation and termination, improve the functional links and modules of performance management, and realize the deep integration of performance management and budget management.
   （5） Strengthen the construction of performance indicator system. Further optimize the common index system, and continue to promote the construction of performance index system of provincial departments by industry and field. In combination with the construction of budget expenditure standards, we will promote the compatibility, unification and scientific adaptation of performance and expenditure standards.
   （6） Improve the performance management system. On the basis of establishing the system of each link of performance management and initially forming a closed loop system, research and formulate the system of department overall expenditure performance evaluation, so as to improve the scientificity and standardization of department overall expenditure performance evaluation.
   （7） Form a joint force of budget performance supervision. Actively implement the performance supervision requirements of the provincial people's Congress and actively report on performance management. We will support the role of audit supervision and take the efficiency of the use of financial funds as the key content of the audit of departments and units. Optimize the performance indicators for the development of high-quality services of provincial organs and units, and promote the quality and efficiency of performance management.

   5、 Other instructions

   The implementation amount in 2021 in this draft is the express amount as of December 31, 2021. After the financial settlement of the upper and lower levels, the above implementation figures may change, and we will reflect them in the provincial and provincial final accounts in 2021, and report to the Standing Committee of the provincial people's Congress as required.

   Data source: Jiangsu Provincial Department of finance, click to view budget details:
   http://czt.jiangsu.gov.cn/attach/0/d8a51d4d8db842dc82c3db7b6a6ae840.pdf