每日经济新闻(博客,微博)实习记者 杜冉乐 发自成都

Daily economic news(blog,Micro bo)Internship reporter du RanLe from chengdu

　　9月初，国家发改委连续两天公布了累计近万亿的基础投资项目。这是2008年的“4万亿”以来，又一次巨大的经济刺激计划。

In early September,The national development and reform commission announced on two consecutive days, the cumulative nearly trillion foundation investment projects.This is 2008"4 trillion"since,And a massive economic stimulus plan.

　　《每日经济新闻》记者粗略统计后发现，在近期公示的上述近万亿基建投资项目中，投向西部地区的约有1/4。仅在西部获批的12个交通项目中，向外透露的项目投资额总计就超过600亿元。由于其中相当一部分需要由地方财政担负，相关资金的来源也引起外界高度的关注。

[Daily economic news]Reporters found a rough statistics,In the near future the public nearly trillions of infrastructure investment project,To the western region of about a quarter.In the western conference approved only 12 traffic project,Outward revealed project investment in more than 60 billion yuan.Because of a considerable portion of the need for by local finance,The source of the related funds also prompted a highly attention.

　　在西南财经大学中国西部经济研究中心教授刘成玉看来，国内经济增速的下行导致各地财政压力骤紧，通过投资轨道交通等来提升土地增值，可以带动地方财政收入增长和吸引民间资本的进入，所以说当前形势下，土地财政仍可能是拉动地方投资的重要动力源(600405,股吧)。

In the southwest university of finance and economics professor in western China center for economic research LiuChengYu looks,The domestic economic growth led to the descending all financial pressure shock tight,Through the investment orbit transportation to improve land value,Can drive the local fiscal revenue growth and attract private capital into,So that the current situation,Land financial could still is to stimulate the local investment important source of power(600405,guba).

　巨额投资带来融资压力 Huge investments to bring the financing pressure

　　《每日经济新闻》记者近日从国家发改委网站获悉，在9月5日所审批的49个投资项目中，西部地区有12个城市的交通项目上榜，主要集中于甘肃、陕西、内蒙古与新疆等省区。

[Daily economic news]Recently, reporters learned from the national development and reform commission (NDRC) website,On September 5th the approval to 49 investment projects,The western region have 12 city traffic project list,The main focus in gansu/shaanxi/Inner Mongolia and xinjiang and other provinces.

　　对此刘成玉表示，轨道交通建设的投资加大，是当前优化投资结构的主要表现，也是缓解大城市交通拥堵的重大举措。

This LiuChengYu said,In the construction of rail transit investment increase,Is the current optimize investment structure of main performance,Is ease traffic congestion big cities, the major move.

　　而在9月6日获批的10个城市污水处理项目中，仅西部地区就占了9个，其中内蒙古和陕西分别收获3个。如果再算上8月底新疆哈密近162亿元的风电大项目，当前可计算的西部总投资额达762亿元。据业内专家估计，实际投资额将可能超过千亿元。

And in September 6, approved 10 cities sewage treatment projects,Only the western region accounted for about nine,The Inner Mongolia and shaanxi harvest three respectively.If it is the end of August xinjiang hami nearly 16.2 billion yuan wind power large project,The current calculated western a total investment of 76.2 billion yuan.According to industry experts estimate,The actual investment will probably more than one hundred billion yuan.

　　在巨大的资金需求之下，地方发债势在必行。今年6月份由财政部首批代发的地方债中，陕西发行额最多，3年期与5年期债券总计85亿元。此外，新疆发行72亿元，广西71亿元，甘肃70亿元，重庆63亿元。与去年相比，前述的西部5省区发债规模均超过了18%，个别高达26%。

In the great sums of money under the demand,It is imperative to place FaZhai.In June this year the first undertakes by the ministry of finance in the place debt,Shaanxi most circulation,3 years and 5 10-year bonds total 8.5 billion dollars.In addition,Issue 7.2 billion yuan in xinjiang,Guangxi is 7.1 billion yuan,Gansu is 7 billion yuan,Chongqing is 6.3 billion yuan.Compared with last year,The west of the five provinces FaZhai scale are more than 18%,Individual reaches as high as 26%.

　　此前，国家审计署网站透露，截至2010年底，全国地方债余额达到10.7万亿元，其中地方政府负偿还责任的债务占62.6%，这也引起业界对其中潜藏着信贷风险的担忧。有分析人士认为，银行中长期信贷的风险控制或将加强，而这势必会影响到大型基建项目的融资。

after,National audit office's website,By the end of 2010,The local debt balance reached 10.7 trillion yuan,The local government negative to repay the debts of the liability accounts for 62.6%,This also caused the industry lurk credit risk concerns.Have analysts believe,Bank long-term credit risk control or will strengthen,And this will definitely affect to large infrastructure project financing.

　　不过，四川省社科院宏观经济研究所副所长盛毅认为，目前地方债的风险是可控的，各大银行总体上还是支持基建投资计划，各省份的债务情况不同，要具体分析。

but,Sichuan academy of macroeconomic deputy director of the institute ChengYi think,The local debt risk is controllable,Each big bank or general support infrastructure investment plan,Each province debt situation is different,A concrete analysis to.

　“去土地财政”暂难推进 "To land financial"Temporary difficult to promote

　　在西部数以千亿计的投资项目中，融资成了地方政府的棘手之事。以6个轨道交通项目为例，除了所在各城市财政担负一部分之外，其余将来自银行贷款、轨道交通沿线土地收入等渠道。在这一情势下，土地开发仍成为拉动地方投资的重要动力，饱受诟病的土地财政恐怕一时还难以退出历史舞台。

In the west hundreds of billions of thousands of investment projects,Financing became a local government difficult things.With six rail transit project as an example,In addition to the cities for outside the financial part,The rest will come from bank loans/Rail transit land income and channels.In this situation,Land development is still become an important driving force for stimulating local investment,The much-maligned land financial I'm afraid at that time also difficult to quit the stage of history.

　　公开资料表明，在今年上半年全国300个城市土地出让金排行榜中，重庆成为唯一同比增长的城市，实现了26%的增长，斩获土地金379亿元，为市财政贡献了近半数资金。

Public data show that,In the first half of this year the national 300 urban land transfer fund in the list,Chongqing became the only year-on-year growth of city,Realized a 26% growth,Gained ground land gold 37.9 billion yuan,For city financial contribution for nearly half of the money.

　　与重庆相比，今年上半年西安共推出了138宗地块，但实际仅成交了108宗，致使市财政同比大幅度缩水。

Compared with chongqing,In the first half of this year xian launched a total of 138 cases of block,But the actual clinch a deal in the 108 cases only,The municipal finance greatly shrink year-on-year.

　　陕西省社科院区域发展咨询中心主任张宝通认为，我国香港特区的稳定繁荣很大程度上来自高额的土地出让金，内地抑制房价上涨必然触及到地方财政，也关联到社会的方方面面，当前乃至未来一段时间，地方政府仍难摆脱土地依赖症。

Shaanxi province academy of regional development, director of the center for consultation ZhangBaoTong think,Our country the stability and prosperity of Hong Kong SAR largely from the high cost of land sell one's own things,The mainland inhibition rising house prices will reach the local finance,Also related to every aspect of the society,The current and future a period of time,The local government is still difficult to get rid of the dependence of the land.

　　在本轮楼市调控之下，“去土地财政”曾成为一时的最强音，但受经济低迷的影响，8月下旬以来，全国各地再掀推地潮。中国房地产学会副会长陈国强曾向媒体表示，目前地方财政要减轻对土地出让金的依赖并不容易。

In the current round of the property market under control,"To land financial"Has become the strongest note of,But by the influence of the economic downturn,Since late August,All parts of the country to reviving push earth tide.China's real estate society vice-chairman Chen guoqiang has to the media said,The local finance will reduce the dependence on the land grant fee is not easy.