宽容失败。 作者/杨继云 报道/投资界PEdaily 投资界获悉，近日国务院国资委发布《中央企业违规经营投资责任追究实施办法》（国 资委令第4 6号，简称《办法》），并将于2 0 2 6年1月1日起正式施行，替代2 0 1 8年试行 的第3 7号令。 当中，增加了 经营投资尽职合规免责条款 。更具突破意义的是， 对于免责情形的认定 十分细化。 如 此 ， 《 办 法 》 进 一 步 强 化 了 央 企 对 战 略 性 新 兴 产 业 、 企 业 科 技 创 新 等 领 域 探 索 性 试 验 、 先 行 先 试 的 保 障 ， 保 护 企 业 经 营 管 理 人 员 干 事 创 业 的 积 极 性 ， 致 力 于 破 解 国 资 创 投"投早投小"的顾虑。 最新一幕 央企创投免责容错 具体来看，《办法》明确央企经营管理有关人员违反规定，未履行或未正确履行职责造 成国有资产损失或其他不良后果，应当追究相应责任的具体情形，包括集团管控等1 3个 方面9 8种责任追究情形。 免责方面，《办法》第四章"责任认定"中的第3 6条明确指出—— 中央企业经营管理人员在依法合规经营、履行忠实义务和勤勉尽责义务、没有牟取非法 ...

Core Viewpoint - The article discusses the recent measures introduced by the Beijing Municipal Government to promote the development of future industries, emphasizing the importance of investment and risk tolerance in fostering innovation and growth in these sectors [5][7]. Group 1: Measures for Future Industry Development - The Beijing Municipal Government has issued 16 measures aimed at establishing a growth mechanism for future industries, focusing on enhancing the investment system and providing long-term support [5][7]. - The measures encourage local government and state-owned enterprise funds to increase investments in future industries, with a minimum of 20% of funds directed towards these sectors [7]. - A new investment evaluation system will be implemented to promote a more inclusive and cautious entrepreneurial ecosystem, allowing for normal investment risks without penalizing single project losses [7][8]. Group 2: Definition and Scope of Future Industries - Future industries are defined to include six major areas: future information, future health, future manufacturing, future energy, future materials, and future space, covering numerous subfields such as AI, 6G, and quantum information [8]. - The measures aim to attract national special funds and encourage long-term capital investments from social security and insurance funds into strategically significant subfields [8]. Group 3: Tolerance for Failure in Investment - The article highlights a growing trend across various regions in China to implement tolerance mechanisms for investment failures, allowing for a more supportive environment for innovation [10][11]. - Recent guidelines in cities like Shenzhen and Guangzhou permit significant losses in seed and angel investments, reflecting a shift towards accepting the risks associated with innovation [10][11]. - While these measures are seen as positive, there are concerns regarding potential misuse and the need for robust auditing mechanisms to prevent asset loss and corruption [11].