广东省政府投资基金管理办法

Core Points - The Guangdong Provincial Finance Department has issued the "Guangdong Provincial Government Investment Fund Management Measures" to establish a scientific and efficient management system for government investment funds [1] - The measures emphasize the importance of government guidance and policy orientation, focusing on major strategies and key areas where the market cannot fully play its role [4] - The government investment funds are categorized into industrial investment funds and venture capital funds, each with specific investment focuses [5] Group 1: Fund Structure and Management - Government investment funds can be structured as mother-son funds or direct investment projects, aiming to control fund layers and prevent excessive nesting that could hinder policy objectives [19] - The establishment of government investment funds requires approval from the local government, with specific regulations for different administrative levels [6][7] - The funds must adhere to a market-oriented selection process for management institutions and must ensure the separation of ownership, management, and custody [9][10] Group 2: Investment Focus and Performance Evaluation - Industrial investment funds focus on enhancing the modern industrial system, supporting traditional industries, and fostering emerging industries [5] - Venture capital funds target early-stage companies, particularly in high-tech sectors, to enhance innovation capabilities and address critical challenges [5] - Performance evaluation of government investment funds will prioritize the comprehensive achievement of policy objectives rather than profit maximization, without setting internal benchmark return rates [15][16] Group 3: Risk Control and Supervision - The measures outline strict regulations to prevent government investment funds from engaging in high-risk activities, ensuring compliance with legal and regulatory frameworks [18][19] - Regular audits and performance evaluations will be conducted by relevant departments to ensure transparency and accountability in fund operations [18][20] - The management of government investment funds must maintain accurate financial records and prevent financial fraud [11][13]