习近平：着力整治地方招商引资乱象

Core Viewpoint - The articles emphasize the need to rectify local investment attraction irregularities and establish a unified national market, highlighting the importance of transparency and standardized practices in investment attraction [2][3][4]. Summary by Sections Local Investment Attraction - The focus is on addressing irregularities in local investment attraction, including the need for a national behavior checklist that specifies encouraged and prohibited actions [3][4]. - There is a call for stricter enforcement of regulations to prevent local governments from offering illegal tax, land, and electricity incentives, which contribute to unhealthy competition [3][4]. Market System and Competition - The current market system in China is described as underdeveloped, with issues such as distorted market mechanisms and disrupted competition still prevalent [2][3]. - The articles highlight the need for a correct performance view among local governments, discouraging short-termism and local protectionism [3][4]. Regulatory Framework - The implementation of the Fair Competition Review Regulation (Order No. 783) aims to standardize local investment practices and prevent preferential treatment without legal basis [4][5]. - The introduction of the "Guiding Opinions on Promoting the High-Quality Development of Government Investment Funds" emphasizes that government investment funds should not be established solely for investment attraction purposes [5][6]. Investment Fund Trends - The shift from tax and subsidy-based investment attraction to a "fund investment" model is noted, with local governments increasingly establishing specialized investment funds [4][5]. - The articles discuss the rise of "merger and acquisition investment" as a new strategy for local governments to attract investment, focusing on acquiring listed companies in line with local industrial needs [9]. Innovative Support Mechanisms - The "pre-investment and post-equity" model is introduced as a new fiscal support mechanism, allowing government funds to support R&D and later convert to equity based on pre-agreed conditions [10]. - This model aims to enhance the efficiency of fiscal fund usage and provide tailored support for startups, reflecting a shift towards more sustainable and patient capital [10].