Research On Operation Of Government Guiding Fund

This paper mainly studies the problems in the operation of the government guiding fund such as small size of funds and narrow channels fundraising,low market operation efficiency,the inevitable conflict of interest between the government and the GP(general partner).Through literature and case study analysis,take Yangtze River industry fund for example,the author sums up several notable features from the fund set up,management and other aspects of the study: installment of FOFS,flexible fund-structure design,40 billion inferior grade fund,mixed-ownership management,highly market-oriented operation.From above several characteristics,the author analyses how the fund takes steps to expand fund-raising channels,improve the market operation,and reveals possible risks in future.Finally,according to the results of the research,the author suggests that the government guiding fund should be defined clearly the rights and responsibilities in the operation,expand fund-raising channels and adhere to market-oriented operation,and gives some prospect of future trends.