what is special debt?

1. Noun explanation. It refers to bonds that local governments raise construction funds for the development of public welfare undertakings with certain income and repay the principal and interest through corresponding local government funds or special income. The term of bonds is 5 years, 7 years, 1 years, 15 years, 2 years, 3 years, etc. After the funds are issued and lent to the cities and counties, the expenditures will be arranged through the budget adjustment of the government funds at the corresponding level, and will be earmarked according to the declared issuance projects.

2. Main uses. It is mainly used in transportation infrastructure, energy, agriculture, forestry and water conservancy, eco-environmental protection, health, education, urban and rural cold chain logistics infrastructure, municipal and industrial park infrastructure, major national strategic projects, renovation of old urban communities, shantytown renovation, land reserve and so on.

3. Responsibility for repayment. Special bonds are included in the budget management of government funds, and their principal and interest are repaid by the income generated by the project itself, and the project unit bears the main responsibility for repayment.