“缺钱，但真的不想搬总部了”！地方投资基金“返投”考核亟待优化调整

Group 1 - Government investment funds are a primary source of capital in the primary market, often attaching "relocation" conditions to their investments, which complicates decision-making for companies [1][3] - The trend of local governments actively seeking to attract companies has intensified, with some local leaders personally leading efforts to entice businesses to relocate [2][3] - The binding of "relocation" to "return investment" creates a dilemma for many companies, as relocating increases operational costs while not relocating risks losing critical funding [4][8] Group 2 - The "return investment" requirement has become a core task for VC/PE institutions, which are expected to invest a certain percentage back into the local economy based on government funding [3][8] - There are three main types of return investment: establishing local branches, setting up factories or sales centers, and relocating core business operations [3][4] - Many companies face hidden "hard requirements" to relocate in order to receive investment, leading to potential disruptions in long-term planning and increased operational costs [4][5] Group 3 - Different types of companies have varying considerations regarding relocation, with those having strong technical capabilities often possessing greater bargaining power [5][6] - Concerns about the management difficulties of operating in a new location are significant, especially for tech companies that rely on close coordination between R&D and production [6][7] - The concentration of core resources in existing locations is a critical factor for companies when considering relocation, as it can impact talent retention and supply chain efficiency [7][8] Group 4 - The effectiveness of the "return investment" strategy is questioned, as many companies that receive funding do not contribute significantly to local economies, leading to a mismatch between investment and actual benefits [8][9] - Recent guidelines suggest that government investment funds should not prioritize attracting businesses solely for short-term metrics like tax revenue, but rather focus on long-term economic contributions [9][10] - Recommendations include shifting assessment criteria from short-term metrics to high-quality development indicators, encouraging local governments to improve the business environment instead of relying on forced relocations [10]