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Taizhou signs with 5 banks to set up urban construction fund
updated on::2016-07-29 15:41

On July 28, the Taizhou urban construction fund was officially set up as the Taizhou Municipal Bureau of Finance and Taizhou Urban Construction Investment Company respectively signed urban construction fund cooperation agreement of total value of 28 million yuan with China Construction Bank, Bank of Communications, China CITIC Bank, Shanghai Pudong Development Bank and Postal Savings Bank of China. It is a significant exploration for Taizhou to innovate urban construction investment and financing system and gradually realize demutualization, marketization and substantialization transformation of government financing platform and will play a positive driving role in expanding investment and financing channels and guiding and motivating social capital of different kinds to take part in urban construction.

 

"Current and next periods are critical for Taizhou to accelerate propelling urban construction, and a large batch of major projects and infrastructure projects are being boosted orderly with increasing demand for construction fund and financial services," said Kong Deping, Deputy Mayor of Taizhou, at the signing ceremony. Urban construction fund is an emerging pattern of investment and financing in public infrastructure and public service fields, conforms to national policy requirements on debt management of local governments, doesn't increase scale of debts of local governments, doesn't occupy credit scale of local banks, and doesn't occupy financing room of the real economy.

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