政府投资基金“投向哪、怎么投、谁来管”？首次！国家层面系统规范来了↓

Core Viewpoint - The National Development and Reform Commission, along with other ministries, has issued a systematic guideline for the layout and investment direction of government investment funds, marking the first comprehensive regulation at the national level [1][2]. Group 1: Investment Direction and Policy Measures - The guideline outlines 14 policy measures focusing on three main aspects: where to invest, how to invest, and who manages the funds [2]. - Investment must align with national major plans and encourage industries listed in the national directory, avoiding restricted or eliminated sectors [6]. Group 2: Fund Layout Optimization - The guideline emphasizes optimizing fund layout to support major strategies and key areas, particularly in weak links where market resources are insufficient, promoting deep integration of technological and industrial innovation [4]. - It advocates for early, small, long-term investments in hard technology to cultivate emerging pillar industries [4]. Group 3: Local and National Fund Coordination - Provincial development and reform departments are tasked with creating local investment lists to optimize fund layout and direction [9]. - The guideline encourages differentiated development of government investment funds, addressing issues like mismatched local resources and homogeneous investment directions [13]. Group 4: Support for Modern Industrial System - National-level funds are directed to support the construction of a modern industrial system and tackle key core technology challenges, aiming to fill industrial gaps and overcome development bottlenecks [14]. - Local funds should align with local industrial foundations and development realities, focusing on upgrading industries and enhancing innovation capabilities [15]. Group 5: Evaluation and Management - A comprehensive evaluation system for fund operation management is being established, combining quantitative and qualitative assessments to strengthen policy guidance and regulatory management [20].