上海青浦出台S基金管理办法（试行）

Core Points - The article outlines the management measures for the Shanghai Qingpu S Fund, which aims to promote enterprise development and enhance the liquidity of the private equity market in Qingpu District [2][3] - The fund is established by the Qingpu District People's Government and operates in a market-oriented manner [2] - The fund has a duration of 10 years, with a 5-year investment period and a 5-year exit period, which can be extended with approval [4] Chapter Summaries Chapter 1: General Principles - The Qingpu S Fund is designed to support enterprise development and optimize the industrial ecosystem [2] - A management committee and an expert review committee are established to oversee investment strategies and project evaluations [2][5][6] Chapter 2: Funding Sources and Scale Adjustment - The fund's capital will be provided in phases based on investment progress [3] Chapter 3: Decision-Making and Management - The management committee is led by a deputy district mayor and includes leaders from various district departments [5] - The expert review committee ensures independent and professional evaluations of investment projects [6] Chapter 4: Operational Principles and Methods - The fund operates under principles of government guidance, market operation, scientific decision-making, and risk prevention [10] - Investment methods include participating in sub-funds and acquiring secondary fund shares [11] Chapter 5: Risk Control - The fund's investment in any single sub-fund is capped at 30%, with a maximum investment amount of 100 million yuan [19] - A qualified custodian bank must be selected for fund management and monitoring [19] Chapter 6: Supervision and Performance Evaluation - The fund management institution must submit annual reports on fund operations and performance to the management committee [22] - A performance evaluation system will be established to assess the fund's effectiveness in achieving policy goals [23] Chapter 7: Supplementary Provisions - The management measures will take effect from December 10, 2025, until December 9, 2027 [25]