浙江：完善政府投资基金管理体系

Core Viewpoint - The implementation of the "Implementation Opinions on Promoting the High-Quality Development of Government Investment Funds" by the Zhejiang Provincial Government aims to enhance the management system of government investment funds to better support the construction of a modern industrial system in the province [1][2]. Group 1: Key Aspects of the Implementation Opinions - The implementation opinions focus on five main areas: supporting the transformation and upgrading of traditional industries, nurturing emerging industries, and planning for future industries to create a high-quality development pattern for government investment funds that is appropriately scaled, reasonably laid out, standardized, scientifically efficient, and risk-controlled [1]. - Government investment funds are required to align closely with Zhejiang's major strategies, key areas, and weak links where the market cannot fully play its role, actively attracting and leveraging more social capital [1][2]. - Industry investment funds will focus on the construction of the "415X" advanced manufacturing cluster in Zhejiang, with a typical duration not exceeding 15 years; venture capital funds will focus on the "315" technology innovation system, with a possible increase in government funding proportion and a typical duration not exceeding 20 years [1]. Group 2: Management and Operational Mechanisms - The implementation opinions propose clear hierarchical management requirements to control fund levels and prevent multi-layer nesting; a mechanism for provincial and municipal linkage in investing in major strategic projects is to be established, promoting collaboration between government investment funds and state-owned enterprise funds [2]. - To enhance decision-making and supporting mechanisms, the opinions call for standardized fund management operations, establishing a scientific and standardized fund operation management and investment decision-making mechanism [2]. - A performance evaluation mechanism will be improved, allowing for normal investment risks, with differentiated evaluations for major strategic projects; an incentive and constraint mechanism will be established, providing liability protection for compliant due diligence [2].