在以"质量驱动"的新时代，资金引导的精准性与效率至关重要。国建集团作为资金的引导者，根据整个 产业发展状况、产业整体优势因素等评估得出不同级别的产业。依据产业级别不同，国建集团按照国企 出资比例从 1:1 到 1:9 的比例进行配资，实行产业优势越强、配资比例越高的逻辑，从而扩大优势产业 对相关行业的联动效应。这种差异化配资策略，确保了金融资源能够更精准地流向最具发展潜力的环 节，提高了资本配置的效率与质量，推动了产业结构的优化升级。当国企通过课题获得低成本长期资 金，并借助产业投资基金参与到更具成长性的投资项目中时，其自身就从单纯的融资需求方，逐步转变 为价值发现者和创造者。这种转变有助于引导企业管理者更加关注长期战略布局和内在价值增长，而非 短期的规模扩张或企业利润。 当前，中国资本市场正经历一场深刻的结构性变迁，从以往注重总量扩张的"规模驱动"阶段，迈入更加 注重内涵与效率的"质量驱动"新时代。一个高质量市场生态的形成，有赖于中长期资金的积极参与。这 些资金的核心特征，便是其对长期价值的专注。国建集团开展的"新时代国企减债融资(DRF)协同民企 共同高质量发展课题"，正是对资本市场质量提升趋势的深刻把握 ...

Group 1 - The core viewpoint emphasizes the importance of deepening state-owned enterprise (SOE) reform and promoting high-quality development as key measures to implement the "14th Five-Year Plan" and prepare for the "15th Five-Year Plan" [1][4] - State-owned enterprises are identified as the leading force in the national economy, and their reform and innovation are crucial for achieving long-term national development goals [1][4] - The National Investment Group is actively implementing the "New Era SOE Debt Reduction Financing (DRF) Collaborative Development with Private Enterprises" initiative, providing systematic solutions through debt and equity investments to support SOE reform [1][2] Group 2 - The DRF initiative allows enterprises to use part of the funds to address immediate financial difficulties while another portion can be invested in an industry equity fund established by the National Investment Group [2] - The National Investment Group acts as a fund guide, assessing industry development and advantages to determine different levels of industry, with funding ratios ranging from 1:1 to 1:9 based on industry strength [2] - This funding mechanism aims to enhance the linkage effects of advantageous industries and supports the concentrated development of key industries outlined in the "14th Five-Year Plan" [2] Group 3 - The DRF initiative embodies a development model that promotes production through financing and enhances financing through production, facilitating the collaborative development of the industrial chain [3] - The operation of the industry equity fund not only provides financial support but also fosters collaboration across the supply chain, aiding SOEs in structural adjustments and upgrades [3] - By combining equity and debt, SOEs can better grasp industry trends, improve resource allocation efficiency, and enhance sustainable development capabilities [3] Group 4 - The current period is critical for concluding the "14th Five-Year Plan" and planning the "15th Five-Year Plan," making SOE reform and the enhancement of new development momentum particularly significant [4] - The DRF initiative serves both the immediate goals of the "14th Five-Year Plan" and the long-term development needs of the "15th Five-Year Plan" [4] - The National Investment Group aims to deepen the integration of industrial, innovation, and financial chains, exploring new investment and financing models that align with high-quality development requirements [4]

Core Insights - The China Financial Academic Conference (CFRC 2025) focuses on key areas such as asset pricing, corporate finance, fintech, and ESG, highlighting the importance of high-quality development in state-owned enterprises (SOEs) [1][3] - The "New Era SOE Debt Reduction Financing (DRF) Collaborative Development with Private Enterprises" initiative aims to provide low-cost, long-term funding to SOEs without increasing their debt ratios, addressing issues like high debt levels and financing difficulties [1][2] Group 1 - The initiative emphasizes that debt reduction is not merely a financial action but a strategic pillar for reshaping core competitiveness and optimizing industrial layout [2] - The DRF model combines production and finance, allowing companies to focus financial resources on state strategic priorities and emerging sectors, enhancing funding efficiency and promoting technological collaboration [2] - Collaboration between SOEs and private enterprises is crucial, as it allows for resource allocation, technological innovation, and market expansion, creating a win-win situation and reducing debt risks for SOEs [2] Group 2 - The China Financial Academic Conference has become a significant platform for financial research in China, advocating for the application of the latest research findings to financial reform and development practices [3] - The company aims to continuously optimize the DRF initiative by incorporating cutting-edge theories from the conference, helping enterprises overcome debt constraints and achieve sustainable high-quality development [3]

Core Viewpoint - The article emphasizes the importance of state-owned enterprises (SOEs) in China's economic development and highlights the initiative by Guojian Group to implement the "New Era State-Owned Enterprise Debt Reduction Financing (DRF) Collaborative Development with Private Enterprises" project to enhance the quality of SOE development while alleviating their debt burdens [1][2]. Group 1: Debt Challenges and Solutions - The debt issue faced by SOEs is both a product of historical development stages and a significant barrier to achieving high-quality growth [2]. - Guojian Group aims to provide low-cost funding to SOEs without increasing their debt ratios, allowing them to address immediate financial difficulties and invest in an industrial investment fund [2]. - The DRF initiative allows for a capital matching ratio of 1:1 to 1:9, enabling SOEs to convert existing debt into liquid and appreciating assets, thus revitalizing capital for development [2]. Group 2: Role of Party Leadership - The initiative is deeply rooted in party leadership, which is seen as essential for ensuring the direction and effectiveness of the DRF project [3]. - The Group's Party Committee plays a crucial role in reviewing major reform plans and financing paths, ensuring alignment with national strategies [3]. - The integration of party leadership into corporate governance structures strengthens the operational foundation of the DRF initiative, with party members taking key roles in decision-making and risk management [3]. Group 3: Future Directions - Guojian Group plans to continue enhancing the political advantages of party leadership and the integration of "Party Building + Finance" mechanisms [4]. - The ongoing optimization of the DRF initiative aims to deepen cooperation and promote the efficient integration of industrial, innovation, and financial chains [4]. - The goal is to create solutions that combine political significance with market depth, contributing to the comprehensive advancement of Chinese-style modernization [4].

经过长期实践和反复验证，"新时代国企减债融资(DRF)协同民企共同高质量发展课题"具备低成本融 资、长期滚动融资、实现外资引进、减债出表、破解"借新还旧"难题等突出优势，帮助企业拓展融资渠 道、加强产业协同、提升核心竞争力，增强企业发展后劲。 2025年经济工作的总体部署和政策框架已经明确，这些要求和任务凸显出更为积极主动的政策基调，指 明了金融行业发展的关键着力点。坚持长期主义、培育壮大耐心资本，是在国内外经济环境深刻变化的 背景下，全方位推进中国经济高质量发展的关键举措。面对新挑战，王韬宇董事长表示，我们必须担负 起新的历史使命，迎难而上、主动作为。国建集团将坚守长期投资、价值投资、理性投资的理念，不断 优化"新时代国企减债融资(DRF)协同民企共同高质量发展课题"，形成更强的金融合力，以金融高质量 发展更好地服务经济高质量发展，为推进中国式现代化、建设金融强国贡献更大力量。 当前，全球经济增长动能趋缓，产业链供应链深度重构，中国经济正处于新旧动能转换的关键期。传统 粗放型增长模式难以为继，中国经济亟需深化金融供给侧结构性改革，发展与之匹配的金融服务，培育 高质量发展新动能。作为一种对资本回报有较长期限展 ...

国建集团王韬宇：突破国企债务桎梏 以产融合作培 育新质生产力 强核心竞争力。在此背景下，金融行业被赋予新的使命——通过产融结合破解国企融资难、融资贵等长 期痛点，为新质生产力的培育与现代化产业体系建设提供可持续的资本动能。 在这场以新质生产力为引领的深刻变革中，国建集团紧跟国家战略导向，全面落地实践"新时代国企减 债融资(DRF)协同民企共同高质量发展课题"，在不增加负债率的前提下为国企提供低成本、长期限的 资金支持，同时引导资金流向战略性新兴产业，助力国企突破债务桎梏、重塑发展动能。国建集团董事 长王韬宇指出，金融与产业的深度协同不仅是化解国企债务风险的关键，更是培育新质生产力、推动经 济高质量发展的战略选择。国建集团精准把握新质生产力对生产要素创新性配置的核心要求，从简单的 资金供给者转变为产业生态的建构者，通过资本流动引导技术流、人才流、数据流等创新要素向战略性 新兴产业集聚，实现金融赋能从量变到质变的跨越式发展。 在"新时代国企减债融资(DRF)协同民企共同高质量发展课题"中，企业在获得全部DRF资金后，一部分 DRF资金可用于解决企业当下资金困难，另一部分DRF资金可以参与国建集团成立的产业股权基金 ...