政府投资基金“投向哪 怎么投” 国家首次作出系统规范

Core Viewpoint - The National Development and Reform Commission, Ministry of Finance, Ministry of Science and Technology, and Ministry of Industry and Information Technology jointly released a systematic guideline for government investment funds, marking the first national-level regulation on their layout and direction [1][5]. Group 1: Policy Framework - The guideline outlines 14 policy measures focusing on three main aspects: investment direction, investment methods, and management [2][6]. - It emphasizes the need for funds to support major strategies, key areas, and weak links where market resources are insufficient, promoting deep integration of technological and industrial innovation [2][6]. - The guideline mandates that fund investments must align with national major plans and encourage industries listed in the national industrial directory, prohibiting investments in restricted, eliminated, or explicitly banned sectors [2][6]. Group 2: Fund Management and Direction - The guideline specifies that provincial development and reform departments are responsible for creating local priority investment lists to optimize fund layout and direction [2][6]. - It addresses issues such as mismatches between government investment funds and local resource endowments, unclear fund positioning, and homogeneous investment directions [2][6]. - National-level funds are required to focus on supporting the construction of a modern industrial system and tackling key core technology challenges, aiming to fill industrial gaps and overcome development bottlenecks [7]. Group 3: Local Fund Guidelines - Local funds are instructed to choose investment directions based on local industrial foundations and development realities, supporting industrial upgrades, innovation capacity enhancement, and the incubation of small and micro private enterprises and technology-based companies [7]. - The National Development and Reform Commission has also developed a management guideline for evaluating fund investment directions, combining positive guidance with negative constraints to establish a comprehensive evaluation system for fund operation management [3][7].