最新动向！多地严控新设基金、整合存量基金

Core Viewpoint - The article discusses the recent implementation of policies aimed at promoting the high-quality development of government investment funds in Gansu Province, reflecting a broader trend across various regions in China to control the establishment of new funds and optimize existing ones [1][3][9]. Group 1: Control and Integration of Funds - The Gansu government's implementation opinion emphasizes the unified management of government investment funds by fiscal departments, with a strict control on the establishment of new funds and a push for the optimization and integration of existing funds [3][4]. - The scope of control over new fund establishment has expanded from county-level to include municipal levels, indicating a tightening of fund creation policies [3]. - Data shows a decrease in the establishment of local government funds, with 298 funds created in Q1 2025, down 2.5% year-on-year, and a total fund size of 338.41 billion yuan, down 19.04% year-on-year [3]. Group 2: Adjustments in Funding Mechanisms - Policies are being introduced to adjust the contribution ratios and optimize return policies for government investment funds, aiming to enhance their guiding role [6]. - For instance, a new 2 billion yuan mother fund in Jingzhou aims to create a fund cluster of at least 20 billion yuan within three years, allowing for a contribution ratio of up to 99% for certain sub-funds [6]. - Other regions, such as Tianjin and Sichuan, have also increased the maximum contribution ratios for government investment funds, with some allowing up to 70% contributions [6]. Group 3: Policy Responses and Trends - Following the issuance of the national guidelines, various regions have actively developed policies to regulate and guide the high-quality development of government investment funds [8][9]. - The focus has shifted towards quality over quantity in fund establishment, with local governments prioritizing the effectiveness and impact of funds on local industries [9]. - There is an increasing emphasis on professional management and risk control within government investment funds, with new measures being introduced to enhance operational processes and mitigate risks [10].