Research On The Operation Of Y City Government Industry Guidance Fund

In the context of market-oriented reforms,the establishment and operation of government industry guidance funds is an innovative move by the government to support local economic growth and industrial development.According to the document of "Y City Government Industry Development Guidance Fund Establishment and Operation Plan",Y City established a government industry guidance fund with a total scale of 10 billion yuan in May 2017.Aiming to promote and guide social capital,the subordinate county and district governments jointly set up industrial fund Structured fund clusters,and promote the continuous development of the government industry guide fund.It adopts a variety of investment methods such as direct investment and equity sub-funds to attract Foreign investors and private capital participate in the economic development of Y City.During the years of the fund existence,build a tens of billions of scale government industry guidance fund clusters,and finally achieve the existing goal of effective financial support for economic development,and promote the optimization and transformation of Y City’s existing industrial structure.This article will combine the development process of the government industry guidance fund,elaborate the domestic and foreign theoretical research results by category,summarize the practical experience in the development process of the Y City government industry guidance fund,point out the current development dilemma of the fund and the practical problems that need to be solved,and give effective Reference suggestions and countermeasures.The Y City Government Industry Guidance Fund is set up in accordance with the strategic positioning requirements of"Industry Prospering and the City Strengthening" proposed by the government.With the guidance and amplification of financial funds,and by supporting county-level government departments to form sub-funds,Attract social capital to participate in innovation and entrepreneurship,and industrial upgrading.The guiding fund promotes the innovation of financing models for the development of local pillar industries by giving priority to the development of industries with local characteristics and advantages,and the standardization of brand building and production management of leading enterprises.Substantial progress has been made in the implementation of the fund plan,making the fund a new style of supply-side reform;a new engine for advancing the rise of local characteristics and superior industries;new methods for the development and construction of high-quality enterprises;creating a new platform for cooperation between local governments at the city and county levels;The development and training of local financial management talents and the innovative use of financial funds have opened up new paths.However,some difficulties were encountered in the management and operation of the fund.For example,the dominant concept of government administration has not been completely transformed,and it has been offside in the role played by the fund;the limited financial stock funds are difficult to be converted into incremental demand for industrial capital through the fund;the limitation of the geographical scope of investment and the limitation of capital liquidity have triggered the contradiction between the expansion of the establishment of the guidance fund and the slow growth of the actual investment progress.In the process of fund management and operation,the city government guides the fund management team to make great efforts to learn from the effective measures of similar funds at home and abroad to improve,clarify the marketization concept of industrial fund investment and operation,introduce a performance evaluation system,and establish an effective incentive mechanism.According to the characteristics of regional industrial development,try to carry out classified management,step-by-step investment,improve project review,and continuously improve the professional level of business management to help the fund achieve its expected development goals.