Recently, the office of the Ministry of Culture and Tourism established “Notice on Using Local Government Special Bonds to Promote the Construction of Major Projects in Culture and Tourism Fields”. (hereinafter referred to as “Notice”) It stipulated that different places should learn from each other to find new ideas, so as to use new methods to promote major project construction in culture and tourism fields with special bonds.

    Recently, financial office and Office of National Development and Reform Commission released the Notice to list financial need of newly added special bonds and to clarify that culture and tourism fields were main investment directions of those newly added special bonds. It’s written in the Notice that local government should seize the declaration opportunity for special bonds and use more special bonds in the major project construction in culture and tourism fields. Culture and tourism administration departments needed to exchange ideas with local financial as well as development and reform departments to coordinate with people in charge of cultural and tourism projects applying for special bonds and encourage the financial institutions to offer facilitating financial support to qualified projects.

    It's listed in the Notice that culture and tourism administration departments should make full use of the major project library and plan and store previously. The government should build a ladder structure with sequential parts of “implementation, declaration, storage and plan” while adhere to the principle that “the use of financial resource was decided by projects”. The plan for key projects in the “14^th five year” plan needed to follow the development tendency of industries and to take into consideration of the key fields supported by the special bonds. Local government could set up a storage library for special bonds in culture and tourism fields if certain conditions could be met in that area.

    According to the Notice, local governments needed to have a clear idea of processes and requirements of special bonds and do well in the preparation and declaration in the previous stage. They also needed to pay attention to projects relating to national major region development strategy, projects relating to national cultural park construction, construction of industrial concentrated area, construction for supporting facilities of tourism public services, construction for infrastructure in key scenic areas and museum construction.