Core Viewpoint - The rise of chain-based investment attraction and the importance of industrial clustering as a new battleground in the context of national policies aimed at standardizing local investment attraction practices [1][4] Group 1: Policy Changes and Their Impact - Recent national policies have aimed to regulate local investment attraction behaviors, leading to a more standardized development of investment practices across regions [1][4] - The shift from "involution-style" investment attraction has resulted in some short-term challenges for local governments, as they can no longer offer special treatments to large enterprises [2][4] Group 2: Innovative Investment Models - Regions are increasingly adopting innovative investment models, such as market-oriented investment companies, to replace traditional government-led approaches [2] - The establishment of collaborative regional investment models, like the Shanghai-Hangzhou Collaborative Innovation Center, is promoting resource sharing and industrial cooperation [3] Group 3: Focus on Business Environment - Improving the business environment is a top priority for local governments, with efforts to enhance service quality and address operational challenges faced by enterprises [4] - The central government's crackdown on "involution-style" investment practices supports the creation of a unified national market, facilitating efficient resource allocation and preventing issues like overcapacity and excessive fiscal resource consumption [4]

Core Viewpoint - The article discusses the ongoing transformation and standardization of investment attraction practices in various regions of China, emphasizing the shift from traditional tax incentives and subsidies to a more structured approach involving government investment funds and the promotion of local industries [3][4][5]. Group 1: Regulatory Changes - The Guangxi Zhuang Autonomous Region has abolished the "Guangxi Investment Attraction Incentive Measures," reflecting a broader trend of regulatory compliance in local investment practices [1][4]. - The implementation of the "Fair Competition Review Regulations" since August last year prohibits preferential treatment for specific operators without legal basis, aiming to create a level playing field [1][2]. Group 2: Shift in Investment Attraction Models - The traditional "tax incentive" and "reward-subsidy" models for attracting investment are being phased out, giving rise to a "fund investment" model that emphasizes the linkage between investment and attraction [5][6]. - Local governments are increasingly establishing specialized investment funds that prioritize collaboration with local investment attraction departments, indicating a shift towards a more integrated approach [5][6]. Group 3: Local Practices and Innovations - Guangdong Province has introduced measures that incorporate attracting venture capital and industry funds into the performance evaluation of investment attraction efforts, showcasing a commitment to nurturing local industries [7]. - The emergence of "merger and acquisition attraction" as a new strategy highlights the evolving landscape of investment attraction, with local governments exploring opportunities to acquire listed companies to strengthen local industries [9]. Group 4: Future Outlook - The emphasis on nurturing endogenous industrial ecosystems suggests that investment institutions will continue to find opportunities in project evaluation and investment empowerment, despite the shift away from investment attraction as a primary goal for government funds [8]. - The central government's focus on standardizing and increasing transparency in investment attraction practices is expected to further shape the landscape, leading to more structured and accountable approaches [10].