“金融有为”地方纵横谈丨以培育耐心资本为核心的政府投行招商模式

Core Viewpoint - The article emphasizes the importance of enhancing the evaluation mechanism for local funds and increasing their tolerance for investment losses to better support foundational research and future industry development [1][3]. Group 1: Government Fund and Investment Strategy - Local governments are establishing industry funds and guiding funds to attract emerging industries and quality enterprises through equity investment and project attraction [3][4]. - The government should improve the evaluation mechanism for local funds, allowing for greater tolerance of investment losses and focusing on overall fund returns rather than individual project returns [3][4]. - Introducing market-oriented professional management institutions can attract more market funds and create a comprehensive investment chain covering various stages of enterprise development [3][4]. Group 2: Role of Government Funds in Project Development - Major projects and leading enterprises are crucial for building complete industrial chains and ecosystems, with government investment playing a significant role in this process [4][5]. - Local governments should identify core and weak links in the industrial chain and prioritize support for leading enterprises and key projects, especially in areas where private investment is hesitant [4][5]. Group 3: Balancing Traditional and Emerging Industries - The article stresses the need for a balanced approach that supports both the transformation of traditional industries and the development of new and future industries [5][6]. - Investments should not only focus on new ventures but also on upgrading traditional industries through technology, equipment, and digital transformation [5][6]. Group 4: Hefei's Experience in Government Investment - Hefei has successfully implemented a "government investment bank" model to attract strategic emerging industries, resulting in significant industrial clusters [6][7]. - The city has established a closed-loop mechanism for investment evaluation, ensuring that investments are based on clear industrial logic [6][7]. - Hefei's risk tolerance and exit mechanisms have been designed to encourage investment while ensuring the safety of state capital [7][8]. Group 5: Creation of a "Venture City" Brand - Hefei launched a "Venture City Plan" to shift from government-led investments to attracting proactive capital investments [8][9]. - The city has set up a government-guided mother fund with a total scale of 20 billion yuan, focusing on key and strategic emerging industries [8][9]. - The initiative has attracted over 300 venture capital partners and linked more than 200 funds, significantly boosting the local investment ecosystem [8][9]. Group 6: Economic Growth and Future Prospects - Hefei's comprehensive strength has seen significant improvement, with GDP surpassing 1 trillion yuan and becoming a new growth star in the Yangtze River Delta region [9].