Countermeasures For Optimizing Management Of Shanghai Government Investment Fund

Government investment funds refer to the key areas and weak links that are supported by governments at all levels through budgetary arrangements,either separately or jointly with social capital,and adopt market-based methods such as equity investment to guide the economic and social development of various types of capital investment,and for industry and sector development.The healthy development of government investment funds will guide and promote the development of economic and social undertakings.The Fifth Plenary Session of the Eighteenth Central Committee of the Communist Party of China adopted the "Thirteenth Five-Year Plan for National Economic and Social Development",proposing to " play the function of fiscal funds,innovate financing methods,and drive social capital to participate in investment." The development of government investment funds is conducive to reflecting the country’s strategic intentions,optimizing resource allocation,implementing supply-side reforms,and improving the quality and efficiency of economic growth.First of all,equity investment funds are important investment and financing tools to support the development of the real economy.Government investment funds are an important part of the national financial investment and financing system.Second,government investment funds are macro-policy tools for realizing industrial strategic development.Under the conditions of market economy,enterprises and individuals’ production and management activities aim at maximizing profits,and it is difficult to achieve the goal of optimizing the macro-economic structure such as industrial structure,which is a category of market failure.Government investment funds attract social capital and guide investment,promote economic transformation and upgrading,improve quality and efficiency,promote innovation and development,and promote industrial upgrading.Third,the use of government investment funds,through the combination of market instruments and financial supervision,is an important institutional innovation to transform government functions and improve financial governance capabilities and efficiency.At present,governments at all levels in China attach great importance to the government investment fund as a policy tool,and have set up various government investment funds,which have played a guiding role in promoting economic and social undertakings.There are also many problems.In terms of fund establishment,government investment funds lack clear positioning and centralized management,resulting in decentralized and overlapping fund establishment.In terms of fund operation,the operational management mechanism of government investment funds is not perfect,the fund design structure is not scientific and reasonable,and the interests are bound.The mechanism is still not perfect.The problems of deformation and distorting in execution are more prominent.Some governments are seriously offside.The administrative power level is used to intervene to manage fund management,which undermines the foundation of fund market operation.In fund management,the supervision of government investment funds The management system is not perfect,there is still a blind spot in fund supervision.The problem of ―absence and offside‖ of government supervision cannot be ignored.With administrative intervention instead of supervision,the effective incentive and restraint mechanism for fund management institutions has not been established,and the national policy objectives are not well realized.In terms of the fund development environment,the policy system and market environment of government investment funds are not perfect,which is not conducive to the sustainable development of the fund.These problems in the development of government investment funds the government needs to play a good role in guiding the government should do a good job,"guidance",focused play grasp the direction,integration of resources,coordination leading role,standardized management and enhance service from start to promote government investment The fund plays its full role and drives social funds to promote industrial transformation and economic development.According to the Ministry of Finance’s "Guiding Opinions on Financial Capital Injection of Government Investment Funds to Support Industry Development",governments at all levels play a role in the establishment,operation,management and development of funds.Specifically,it includes the rational use of government investment funds to focus on supporting key industries,standardizing the establishment of operational support industries,government investment funds,fulfilling the duties of financial investors,and creating a good environment for government investment funds to support industrial development.This paper intends to use research methods such as literature review,comparative analysis and case analysis.Through reviewing relevant domestic and foreign government investment funds related articles,journal articles,academic papers,etc.,sorting out and summarizing them,summarizing the relevant situation of government investment fund operation management,the development of state and Shanghai government investment funds,and The operation of government investment funds in the United States,Israel and other countries is comparatively analyzed,and its operation mode is analyzed,drawing on international scientific operation mode and advanced management experience.In addition,through the analysis of the specific case of the Shanghai government investment fund,the problems in the operation management of the fund are analyzed,mainly from the perspective of the government,and the countermeasures and suggestions are pointed out.Include scientifically defining the fund investment field,highlighting the fund investment focus,and acting in areas with certain competitiveness,market failure and obvious spillovers,constructing a standardized fund governance structure,strengthening interest binding,and establishing an effective incentive and restraint mechanism.Specialized market operations to achieve government guidance objectives;to improve government supervision and service levels,to create a good development environment for government investment funds,and so on.