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introduction: the ministry of finance will implement the policy of "investigate and punish all illegal and irregular acts such as the creation of new hidden debts and false debt repayments, and hold all such acts accountable" and continue to strengthen the investigation, punishment and accountability of hidden debts to effectively prevent and resolve the risks of hidden debts.

september 19,the ministry of finance issued a notice on eight typical cases of accountability for local government hidden debts.

the party central committee and the state council attach great importance to preventing and resolving the risks of local government hidden debts (hereinafter referred to as hidden debts). the third plenary session of the 20th cpc central committee emphasized the need to coordinate development and security and implement various measures to prevent and resolve local government debt risks. the ministry of finance regards the prevention and resolution of hidden debts as an important part of the 2023 special action inspection for financial and accounting supervision, and severely investigates and punishes illegal and irregular acts such as new hidden debts and false resolution of hidden debts (hereinafter referred to as false debt resolution), and promotes relevant localities and departments to hold them accountable in accordance with laws and regulations. in order to further strengthen financial discipline, play a warning and educational role, and resolutely curb the increase of hidden debts, the eight typical cases of accountability for hidden debts investigated and dealt with in the 2023 special action for financial and accounting supervision are reported as follows:

1. tianjin port free trade zone in tianjin directly borrowed from local state-owned enterprises, adding 7.397 billion yuan in hidden debt.from june 2018 to may 2023, according to the minutes of the standing committee of the party committee of tianjin port free trade zone, it was decided that the tianjin port free trade zone management committee would borrow a total of 14.732 billion yuan from tianjin free trade zone investment holding group co., ltd. and its subsidiary tianjin tianbao international logistics group co., ltd., and all of it would be transferred to tianjin lingang investment holding co., ltd. to repay its existing debts. as of may 2023, the tianjin port free trade zone management committee had returned 2.757 billion yuan to tianjin free trade zone investment holding group co., ltd. and its subsidiary tianjin tianbao international logistics group co., ltd., and the loan balance was 11.975 billion yuan. after deducting 4.578 billion yuan used for the "new borrowing to repay old" of existing debts in the local government implicit debt statistical monitoring system, the remaining part formed an additional implicit debt of 7.397 billion yuan. the cpc tianjin municipal commission for discipline inspection and the tianjin municipal supervisory commission organized the accountability of the relevant responsible persons in accordance with discipline and regulations. you moumou, then secretary of the tianjin port free trade zone working committee (party committee) and director of the management committee, was given a party warning; lv moumou, then member of the tianjin port free trade zone working committee and deputy director of the management committee, was given an administrative warning; bi moumou, then deputy secretary of the tianjin port free trade zone party committee, was criticized and educated, and ordered to conduct a thorough self-examination; hong moumou, then secretary of the tianjin port free trade zone party committee and director of the management committee, was criticized and educated, and ordered to conduct a thorough self-examination; kou moumou, then member of the tianjin port free trade zone party committee and deputy director of the management committee, was criticized and educated, and ordered to conduct a thorough self-examination; zhao moumou, then secretary of the party committee of tianjin free trade zone investment holding group co., ltd. and member of the standing committee of the free trade zone party committee, was given a warning; and other relevant personnel were dealt with together.

2. bayuquan district, yingkou city, liaoning province, incurred an additional hidden debt of 1.996 billion yuan by borrowing from local state-owned enterprises.from 2022 to june 2023, in accordance with the memorandum on debt resolution and fund raising issued by the bayuquan district government of yingkou city, the finance bureau of bayuquan district of yingkou city borrowed 1.537 billion yuan from local state-owned enterprises and 459 million yuan from other enterprises, and put all the loans into the urban construction special account for overall use, resulting in an additional hidden debt of 1.996 billion yuan. the cpc liaoning provincial commission for discipline inspection and the liaoning provincial supervision commission organized the accountability of the relevant responsible persons in accordance with discipline and regulations. the then deputy secretary of the bayuquan district party committee and district mayor meng was given a warning; the then deputy secretary of the bayuquan district party committee and district mayor guan was given an administrative warning; the then member of the bayuquan district standing committee and deputy district mayor qu was given an administrative demerit; the then director of the bayuquan district finance bureau xu was given a serious administrative demerit; the then director of the bayuquan district finance affairs center zhou was given an administrative demerit; the then general manager of yingkou economic and technological development zone huayuan thermal heating co., ltd. liu was criticized and educated; the then general manager of yingkou bayuquan district yinggang thermal power co., ltd. yan was criticized and educated; the then director of yingkou bayuquan district urban renewal guarantee center yu was criticized and educated; other relevant personnel were dealt with together.

3. hunan province’s public vocational schools have incurred an additional hidden debt of 450 million yuan by renting instead of building.in november 2018, hunan petrochemical vocational and technical college decided on its own to cooperate with yueyang xiangnu culture and education development co., ltd. to build a new campus by renting instead of building. it repurchased the campus by paying an annual rent of 12.33 million yuan and entrusting the operation of the tertiary industry (including the new and old campuses) for a period of 30 years with a total amount of 450 million yuan, resulting in an additional hidden debt of 450 million yuan. the hunan provincial commission for discipline inspection and the hunan provincial supervision commission organized the accountability of the relevant responsible persons in accordance with the rules and regulations. lei, the then secretary of the party committee of hunan petrochemical vocational and technical college, was given a serious warning within the party; xu, the then deputy secretary of the party committee and vice president of hunan petrochemical vocational and technical college, was ordered to make a written inspection; liu, the then member of the party committee of hunan petrochemical vocational and technical college and the general commander of the project department, was given a warning within the party; sun, the then vice president of hunan petrochemical vocational and technical college, was criticized and educated; guo, the then vice president of hunan petrochemical vocational and technical college, was criticized and educated; liu, the then member of the party committee of hunan petrochemical vocational and technical college, was given a conversation reminder.

4. dongxiang district, fuzhou city, jiangxi province added 340 million yuan in hidden debt through borrowing from local state-owned enterprises.from march to december 2022, the dongxiang district finance bureau of fuzhou city transferred 340 million yuan of financing funds from two district-owned state-owned enterprises, fuzhou dongxiang district industrial and technological innovation investment group co., ltd. and fuzhou dongxiang district urban investment development co., ltd., in the name of returning capital reserves, and used them in a coordinated manner, resulting in an additional hidden debt of 340 million yuan. the jiangxi provincial commission for discipline inspection of the communist party of china and the jiangxi provincial supervision commission organized the accountability of the relevant responsible persons in accordance with discipline and regulations. the then deputy secretary of the dongxiang district party committee and district mayor li was given a warning; the then member of the standing committee of the dongxiang district party committee and executive deputy district mayor li was given a party warning; the then secretary of the party group and director of the dongxiang district finance bureau zhu was given a serious warning within the party; the then chairman of the fuzhou dongxiang district industrial and technological innovation investment group co., ltd. liu was ordered to make a written inspection; the then chairman of the fuzhou dongxiang district urban investment development co., ltd. chen was given a warning; and other relevant personnel were dealt with together.

5. meihekou city, tonghua city, jilin province, with public hospitals as the main body of loans, added 298 million yuan in hidden debt.in december 2020, according to the minutes of the meeting of the meihekou municipal government, the former meihekou central hospital (now the meihe hospital of the first hospital of jilin university) borrowed from the tonghua meihekou branch of jilin bank co., ltd. in the name of supplementing operating funds, and lent 298 million yuan to meihekou caiyuan investment co., ltd. among them, meihekou caiyuan investment co., ltd. used 159 million yuan to purchase state-owned assets, and the sales proceeds generated were turned over to the municipal finance by meihekou state-owned assets management co., ltd.; the remaining funds were also transferred to the meihekou municipal finance bureau for overall use. the actual repayment of the principal and interest of the above loans are borne by the finance, resulting in an additional hidden debt of 298 million yuan. the jilin provincial commission for discipline inspection of the communist party of china and the jilin provincial supervision commission organized the accountability of the relevant responsible persons in accordance with discipline and regulations. the then secretary of the meihekou municipal party committee, wang, was given an administrative warning; the then member of the standing committee of the meihekou municipal party committee and deputy mayor, wang, was given a warning; the then secretary of the party leadership group and director of the meihekou municipal finance bureau, sun, was given an administrative warning; the then legal person of meihekou juyuan investment co., ltd. and meihekou chuangyuan development investment co., ltd., hu, was given a warning; the then director of meihekou central hospital, li, was criticized and educated; and other relevant personnel were dealt with together.

6. baotou city, inner mongolia autonomous region, borrowed money from a financial leasing company to repay existing hidden debts and treated it as debt settlement, resulting in false debt settlement of rmb 68 million.from september 2018 to december 2019, baotou light industry vocational and technical college borrowed money from far east horizon financial leasing co., ltd. and ping an international financial leasing co., ltd. to repay 68 million yuan of existing hidden debts, including training buildings and ancillary facilities projects, and treated them as debt repayment in the local government hidden debt statistical monitoring system, resulting in false debt repayment of 68 million yuan. the inner mongolia autonomous region commission for discipline inspection and the inner mongolia autonomous region supervision commission organized the accountability of the relevant responsible persons in accordance with discipline and regulations. the then director of the baotou municipal finance bureau, zhang, was given a reminder in a talk; the deputy director of the baotou municipal finance bureau, qi, was criticized and educated, and ordered to make a written self-examination; the then head of the debt management office of the baotou municipal finance bureau, li, was given an intra-party warning; the then chief of the debt section of the baotou municipal finance bureau, wang, was given an intra-party warning; the then president of the baotou light industry vocational and technical college, ren, was criticized and educated, and ordered to make a written self-examination; the then vice president of the baotou light industry vocational and technical college, xue, was criticized and educated, and ordered to make a written self-examination; other relevant personnel were dealt with together.

7. lingao county, hainan province required the agent bank to advance payment and pay for the newly added hidden debt of 840 million yuan that had not been settled for a long time.from november to december 2022, the lingao county finance bureau violated the regulations that local finance departments shall not illegally require agent banks to postpone liquidation and advance funds for a long time. according to the communication opinions with the lingao branch of industrial and commercial bank of china, lingao county branch of agricultural bank of china, lingao branch of china construction bank, and hainan lingao rural commercial bank, it required the above banks to postpone liquidation and illegally advance 840 million yuan. as of the end of december 2022, the lingao county finance bureau had not liquidated the long-term advance funds, resulting in an additional hidden debt of 840 million yuan. the hainan provincial commission for discipline inspection, the hainan provincial supervision commission, and the state administration of financial supervision and administration organized the accountability of relevant units and responsible persons in accordance with discipline and regulations. the then deputy secretary of the lingao county party committee and county magistrate tang was criticized and educated, ordered to make a written inspection and reported; the then member of the standing committee of the lingao county party committee and deputy county magistrate li was given a warning; the then director of the lingao county finance bureau pang and deputy director wang were given administrative warnings; the then director of the treasury office of the lingao county finance bureau luo was given a warning; the lingao branch of industrial and commercial bank of china was fined 450,000 yuan; the lingao county branch of agricultural bank of china was fined 450,000 yuan; the lingao branch of china construction bank was fined 450,000 yuan; the then president of the lingao branch of industrial and commercial bank of china guo and the deputy president in charge xie were given a warning; the then president of the lingao county branch of agricultural bank of china wang and the deputy president in charge wen were given a warning; the then president of the lingao branch of china construction bank guo was given a warning.

8. state-owned enterprises in yongning county, yinchuan city, ningxia hui autonomous region, incurred an additional hidden debt of 320 million yuan by pledging rural drinking water and agricultural irrigation franchise rights for financing.in march 2023, in accordance with the implementation plan for the rural drinking water and agricultural irrigation concession project in yongning county approved by the standing meeting of the yongning county government, the yongning county finance bureau and yongning county fengyuan agricultural development co., ltd. signed the asset transfer agreement for the rural drinking water and agricultural irrigation concession project in yongning county and the concession agreement for the rural drinking water and agricultural irrigation concession project in yongning county, transferring the franchise rights of the rural drinking water and agricultural irrigation in yongning county to the company. yongning county fengyuan agricultural development co., ltd. signed the rights pledge contract with the yongning county branch of the agricultural development bank of china, borrowing 320 million yuan for a period of 20 years for the rural drinking water and agricultural irrigation concession project in yongning county. the annex to the rights pledge contract includes the explanation on the budget funds related to the rural drinking water and agricultural irrigation concession project in yongning county issued by the yongning county finance bureau, the debtor of the pledged rights, promising to include the water fees paid by agricultural irrigation to the main canal and the renewal and maintenance costs of rural drinking water and agricultural irrigation equipment in the budget during the concession period, resulting in an additional hidden debt of 320 million yuan. the cpc ningxia hui autonomous region commission for discipline inspection, the ningxia hui autonomous region supervisory committee, and the state financial supervision and administration bureau organized the accountability of relevant units and responsible persons in accordance with discipline and regulations. the then secretary of the yongning county party committee zhu was criticized and educated; the then county magistrate of yongning county luo was given a government warning; the then executive deputy county magistrate of yongning county huang was given a government warning; the then director of the finance bureau xie was given a government demerit; the then director of the yongning county housing and urban-rural development bureau bai was criticized and educated; the then chairman of yongning county fengyuan agricultural development co., ltd. qu was given a government warning; the then general manager of yongning county fengyuan agricultural development co., ltd. tang was given a government demerit; the yongning county branch of the agricultural development bank of china was fined 500,000 yuan; the then deputy president (temporary person in charge) of the yongning county branch of the agricultural development bank of china wang was given a warning; and other relevant personnel were dealt with together.

the above eight typical cases expose that some local and unit leaders have deviations in their performance concept and lax discipline. in implementing the decisions and arrangements of the cpc central committee and the state council, they do not follow orders or prohibitions, make concessions and make changes, which seriously affect the effectiveness of the prevention and resolution of hidden debt risks. serious accountability for the relevant responsible persons fully demonstrates the strong determination and firm will to hold hidden debt issues accountable for life and trace back to the responsibility. all localities and units should draw profound lessons from the typical cases reported, draw inferences from one instance, and take them as a warning. we must effectively improve our political stance, strengthen the "four consciousnesses", strengthen the "four self-confidences", and achieve the "two safeguards", resolutely implement the arrangements of the cpc central committee and the state council, take the prevention and resolution of hidden debt risks as an important political discipline and political rules, always establish risk awareness and bottom-line thinking, resolutely curb the increase in hidden debts, and properly handle and resolve the stock of hidden debts. the ministry of finance will earnestly perform its main responsibility for financial and accounting supervision, and "discover, investigate and hold accountable" for illegal and irregular acts such as the increase of hidden debts and false debt reduction, and continue to strengthen the investigation and accountability of hidden debts to effectively prevent and resolve hidden debt risks.