Core Insights - The article discusses the shift from localized government guidance funds to cross-regional collaborations in establishing investment funds, highlighting the inefficiencies and challenges of the traditional localized approach [1][3][6] Group 1: New Collaborative Models - Recent examples of cross-regional fund establishment include the collaboration between Hubei and Zhuhai, which launched a 10 billion yuan fund focused on high-tech sectors [1] - The joint initiative between Anhui and Henan aims to enhance cooperation in the national unified market and encourages market-driven fund establishment [2] - The Guangdong province has signed agreements for seven provincial collaborative development mother funds, totaling over 17 billion yuan [2] Group 2: Driving Forces Behind Collaboration - Three core driving forces for this new model include policy changes, similar industrial structures among neighboring regions, and the need for better resource allocation [3][4] - The "No. 1 Document" from the State Council restricts local governments from establishing investment funds, prompting a shift towards collaborative fund setups [3] - The need to avoid homogeneous competition and enhance regional competitiveness is driving local governments to seek partnerships [4] Group 3: Challenges and Coordination - The coordination of interests and mechanisms is crucial for successful cross-regional fund establishment, as it involves complex negotiations and benefit-sharing [6][7] - Differences in policies and standards across regions increase the costs of collaboration, complicating the establishment of unified investment criteria [7] - Suggestions for overcoming these challenges include forming integrated mother fund alliances and establishing standardized return investment criteria [7]