21社论丨完善政府投资基金管理 避免地方同质化竞争

Group 1 - The core viewpoint of the articles emphasizes the importance of government investment funds in supporting innovation and addressing market failures in China’s economy, particularly in the context of high-quality development and technological self-reliance [1][2][4] - The newly released guidelines specify that national-level funds should focus on modernizing industries, tackling key technological challenges, and supporting major cross-regional projects, while local funds should consider regional characteristics and support small and micro enterprises [3][4] - The government investment funds are intended to complement market forces rather than replace them, aiming to attract more social capital and avoid homogeneous investments across regions [2][4] Group 2 - The guidelines prohibit investments in restricted or eliminated industries as per the industrial adjustment directory, aiming to prevent local governments from using these funds to subsidize overcapacity sectors [3] - There is a call for improved management of government investment funds to avoid resource wastage and ensure effective allocation, particularly in light of the competition among local governments [2][3] - The articles highlight the necessity of establishing a high-level socialist market economy system to foster innovation and ensure that government investment funds serve as a catalyst for social capital engagement [4]