山东省科技厅近日修订印发了《山东省重点研发计划管理办法》。省重点研发计划将建立全过程嵌入式 监督评估机制。监督评估结果作为项目调整、撤销或终止、财政资金拨付、绩效评价、后续项目支持的 重要依据。建立创新激励机制，对项目组织实施中绩效突出的单位和个人，可作为项目滚动支持、择优 (定向)委托遴选等的重要参考；建立容错免责机制，对已勤勉尽责，因受技术路线选择失误、市场风险 影响或其他不可预见原因，未实现项目预定目标的，不予追究科研失败责任；建立责任追究机制，对项 目执行不力的，由省科技厅组织调查并按规定严肃处理，处理结果以适当方式向社会公布，并纳入科研 诚信记录，涉嫌违纪违法的，移交有关部门。(大众日报) ...

▲江苏省淮安市清江浦 区纪委监委通报一起容错免责典型案例。图/网络截图 干部违规审批为企业节省200万，被容错免责并获得晋升。 据扬子晚报报道，7月1日，江苏省淮安市清江浦区纪委监委通报了一起容错免责典型案例。 顺丰淮安创新产业园项目是2023年淮安市重大产业项目，淮安市清江浦区区管干部谢某某在推进该项目 建设中，在项目缺少部分技术指标的情况下容缺办理人防事项审查，违反了相关规定，但鉴于该同志出 于公心、为企业着想，敢于担当作为，被容错免责、鼓励激励。2023年9月决定对其予以容错免责，并 晋升为三级主任科员，进一步放大容错激励效应，推动干部从"怕担责"向"勇担当"转变。 这一案例之所以引发广泛关注，在于其触及了干部管理中的重要命题：如何在坚持原则的同时激发干部 担当作为。谢某某在推进顺丰淮安创新产业园项目中，面对缺少部分技术指标的情况，提出分步容缺审 批方案，虽违反相关规定，却为项目建设抢得三个月宝贵时间，节省企业成本200余万元。当地以容错 免责的做法，肯定了该干部的担当精神。 容错免责机制备受关注。近年来，各地纪检监察机关通过完善容错纠错制度办法、印发容错纠错典型案 例等方式，激励干部担当作为。淮安市清 ...

Group 1 - The core viewpoint is that state-owned capital venture investment (国资创投) is becoming a dominant force in China's equity investment market, injecting stable funding and targeting new productive forces, thus playing a crucial role in the development of strategic emerging industries [1][2] - In 2023, over 50% of newly raised funds in various scales had state-owned capital backgrounds, with 100 billion yuan and above funds exclusively managed by state-owned capital [2][3] - The trend of state-owned capital and government-guided funds accounted for 77.43% of total fund subscriptions in 2023, increasing to 81.58% in 2024 [3] Group 2 - Challenges faced by state-owned venture capital include the need for clarity on the legal status of state-owned fund managers, as current regulations restrict state-owned entities from being general partners [2][12] - There is a prominent issue of homogenized competition among local governments, leading to overlapping investment strategies in popular sectors like AI and renewable energy, which increases the risk of bubbles and overcapacity [3][4] - The operational model of state-owned venture capital deviates from market-oriented practices, with weakened incentive mechanisms and bureaucratic decision-making processes [4][5] Group 3 - The recruitment process for talent in state-owned venture capital lacks autonomy and competitiveness, making it difficult to attract skilled professionals [5][6] - The assessment mechanisms for state-owned venture capital do not align with the unique characteristics of the venture capital industry, focusing instead on immediate financial metrics like revenue and profit [6][16] - The exit procedures for investments are complex and face rigid constraints, complicating the liquidation of funds and the recovery of investments [7][8] Group 4 - Recommendations include revising the partnership law to grant legal status to state-owned venture capital as general partners, reflecting the industry's evolution over the past two decades [12][18] - Local governments should develop industries based on their unique resource endowments, avoiding blind investments in trending sectors without local advantages [13][14] - Establishing market-oriented incentive mechanisms and independent decision-making processes is essential for the healthy development of state-owned venture capital [14][15]

又有地方国资能够容亏1 0 0%了。 3月2 5日，深圳市南山区印发《南山区支持创新创业"六个一"行动方案》，其中，在"投早投小 投科技行动"中，提出设立总规模为5亿元的战略直投专项种子基金和天使基金，对经认定的人 工智能、机器人、生物医药、低空经济等南山区重点扶持和发展的战略性新兴产业和未来产业 的初创企业给予领投支持， 基金内单个项目最高允许1 0 0%亏损 。 据悉，该基金将由深圳市南山战略新兴产业投资有限公司1 0 0%出资，南山战新投是由深圳市 南山区政府设立的国有独资有限责任公司。 这可谓是全国"天花板"级别的容亏率，我们认为，对整个引导基金和国资母基金行业的容错免 责机制建设来说，是一种积极的引导与带动。科技创新股权投资尤其"投早投小"的风险大，出 现项目失败也是可能的，但只要管理规范、投资稳健及盈利满意的，则应宽容少数项目的投资 失败。 就在上个月，广州开发区国有资产监督管理局发布的《广州开发区（黄埔区）科技创新创业投 资母基金直接股权投资实施细则》提出，在受托管理机构尽职尽责前提下，种子直投、天使直 投单项目最高允许出现1 0 0%亏损，按照直投资金投资整个生命周期进行考核。 可见，基金内单 ...