跨境融资资讯
Brief Introduction on Chinese Government Industrial Guiding Fund发布日期:2020-04-21 |
Brief Introduction on Chinese Government Industrial Guiding Fund
1. Definition and Types of Guiding Fund: Ad Hoc Fund There is no official definition for ‘Chinese Government Industrial Guiding Fund’ (hereinafter as Guiding Fund). The Guiding Fund usually refers to the government makes investment in order to attract financial institutions and social capital to jointly set up a fund, which will be used to support specific industries or areas. These ad hoc funds are established by the state and local governments for guiding the development of developing industries and innovative industries. The Guiding Fund is policy-oriented fund that attracts social capital through equity, bonds or other ways, which is operated and managed in the way of marketization, with the aim of supporting specific industries and regions. The Guiding Fund can be divided into industrial guiding fund, venture capital and other fund (currently mainly refers to PPP fund). 2. Nature of the Guiding Fund: Private Equity Fund The Guiding Fund is privately offered, which is essentially a private equity fund. According to the ‘Measures on Registration and Recordation of Privately Offered Investment Funds (Temporary)’published by Asset Management Association of China in December, 2014, as well as the ‘Asset Management Integrated Recommendation Platform’ of Private Equity Fund Recordation System, the Guiding Fund is categorized as equity investment fund and other fund, etc. under the class of private equity fund. 3. Function of the Guiding Fund: Leverage Social Capital and Accelerate Industrial Upgrade
The
Guiding Fund is mainly raising fund from the perspective of economic balance
between the state and individuals and structural optimization, and is also
guaranteed by the government. The Guiding Fund can therefore leverage social
capital to provide financial support for the development of those emerging
strategic enterprises such as energy conservation and environmental protection,
photovoltaic, new energy, high-tech services and medicine etc., as well as
high-tech industries. |