Research On The Operation Of Government Industry Fund In Lishui City

Government industry fund is an important innovation of economic development mode supported by the government under the background of market-oriented reform.In accordance with the relevant spirit of Opinions on Accelerating the Establishment of Government Industry Funds on Innovative Financial Support for Economic Development,Zhejiang Province,as the pilot zone of national government industry fund exploration practice,set up a provincial government industry fund with a total scale of RMB 20 billion in 2015,which aimed to promote the establishment of industry fund for municipal and county governments through giving full play to the leading and radiating role of mother fund,and adopt the operation mode of project direct investment and sub-fund to leverage social and financial capital to increase the input.The purposes are that the industry fund of provincial government will reach RMB100 billion,and the investment of social capital and financial capital will reach RMB1 trillion in three years.Finally,the economic development mode supported by finance will be effectively transformed,and the industrial structure adjustment,transformation and upgrading of our province will be comprehensively promoted.Starting from the establishment principle of government industry fund,this paper analyzes the generation,characteristics,significance,organizational form and operation mode of government industry fund through systematically introducing the domestic and foreign theoretical research status.This paper deeply studies the establishment of government industry fund,the practical experience in the operation and development dilemma in Lishui City,Zhejiang Province on the basis of theoretical analysis.In recent years,Zhejiang Lishui Ecological Economy Industry Fund actively plays the guiding and radiating role of municipal mother fund,responses to the "phoenix action" enterprise share reform and listing plan,sets up a regional sub-fund,attracts private capital to participate in industrial development,transformation and upgrading,solidly carries out cultivation of high-quality financial resources and further promotes the standardized management and substantive operation of the fund in accordance with the new orientation and new requirements of Lishui City “Ecological industry shall be cultivated as the primary economy”,which has become a new model of supply-side reform,a new engine for cultivation of high-quality financial resources,a new power to boost the construction of characteristic towns,a new model of regional municipal and county government cooperation and a new platform for training local financial and fundmanagement talents in Lishui City.However,in the process of government fund operation,Lishui City also faces a lot of problems,such as,increasing difficulty for promoting the transformation of fiscal funds into funds,deviation of social capital choice and government policy orientation,prominent contradiction between regional restriction of investment and capital flow and poor progress of fund investment.By referring to the fund operation modes and methods at home and abroad,it is suggested that Lishui City shall improve the fund management level based on regional characteristics and achieve the goal of fund establishment through defining the concept of fund operation,improving management level,establishing performance system and exploring incentive mechanism in the process of government industry fund promotion.