To speed up the transformation of economic development mode, Guangdong has provided 10 billion financial funds to support strategic emerging industries. "Forty Articles" has a high gold content, of which the financial support for accelerating the transformation of economic development mode is strong. During the "Twelfth Five-Year Plan" period, the provincial finance will allocate 2 billion yuan each year for a total of 10 billion yuan, focusing on supporting and guiding the development of strategic emerging industries. The Provincial Party Committee and the Provincial Government "Several Opinions on Accelerating the Transformation of the Mode of Economic Development" (hereinafter referred to as "Opinions") have been formally released recently. Among them, it is proposed that during the “12th Five-Year Plan†period, the provincial finance will allocate 2 billion yuan each year for a total of 10 billion yuan to support the development of strategic emerging industries. Financial support and tax reduction and exemption, nearly 20 billion yuan in real gold and silver support funds each year.
However, in the view of the venture capitalists, "If this money is used in the form of government-guided funds, market-oriented operations and supporting social market-oriented funds, according to the ratio of 1:10, the entire market investment will reach 200 billion yuan. The market-oriented approach has also improved the operating efficiency of capital. "
Financial funds "four thousand and twenty
As a comprehensive implementation of the central government's major strategic plan for accelerating the transformation of the mode of economic development, the Provincial Party Committee and the Provincial Government "Several Opinions on Accelerating the Transformation of the Mode of Economic Development" were formally released recently. It is reported that the "Opinions" has a total of 40 articles, divided into eight parts, and proposes six prominent areas, namely, highlighting the coordinated pull of consumer investment and exports, highlighting the optimization and upgrading of industrial structure, highlighting the coordinated development of regional economies, highlighting independent innovation, and improving people's livelihood, Highlight key areas and key link reforms, increase policy support and strengthen organizational leadership, and pay close attention to the implementation of work. In order to ensure the implementation of work measures and tasks, the "Forty Articles" put forward specific data indicators for each work task, and specifically put forward 16 articles of finance, taxation, land, Specific policy measures such as price and finance.
Liu Kun, director of the Provincial Department of Finance, introduced that the 10 billion yuan support target will be divided into two categories, one is a project with a single enterprise as the main body, and the other is an industrial cluster project with the main enterprise or main product as the mainstay. For projects with a single enterprise as the main body, each batch supports 16 projects, and each project supports 50 million yuan; for industrial cluster projects that focus on the main enterprises or main products, each batch supports 15 projects, each supporting 80 million yuan. In addition, for the particularly excellent projects discovered during the project selection and evaluation process, special funds will be arranged for special support after approval by the provincial government. In terms of distribution methods, the thinking is also very new. Liu Kun said that in the distribution, it is planned to introduce a competition mechanism and establish a project selection mechanism through bidding and other means to achieve "multiple choices, good choices", improve the efficiency of fund use, and effectively play the lever role of financial funds. And multiplier effect, strive to be guided by tens of billions of financial funds, and pull hundreds of billions of social funds into strategic emerging industries.
Supporting capital market operation is more efficient
The Provincial Department of Finance supports 20 billion yuan a year to support the “transition method†approach. From the perspective of venture capitalists, the method can be optimized.
"If the money of 10 billion arranged by the provincial finance is used in the form of government guidance funds, using market-oriented operations and supporting social market-oriented funds, according to the ratio of 1:10, the entire market will invest 200 billion yuan in capital." One inconvenience The named venture capitalist said.
He introduced the Suzhou Industrial Park Venture Capital Guidance Fund (hereinafter referred to as Suzhou Guidance Fund) as a case.
The Suzhou Industrial Park Venture Capital Guidance Fund, which was jointly established by the China Development Bank and China New Ventures on March 22, 2006, is a model of domestic guidance funds. The total scale is 1 billion yuan. As of September 2009, all investments have been completed. Participated in 16 funds.
The Suzhou Guidance Fund first established several basic strategies. The first is to only be a parent fund, in other words, only to invest in sub-funds, not to invest in projects, and not to participate in management; second, to focus on venture capital, focusing on the early stage and growth period.
In May 2008, the Suzhou Guidance Fund announced the establishment of six RMB sub-funds with Detong Capital, Softbank China, Zhiji Ventures, Heli and Jiangsu Xinquan Ventures, each with a scale of approximately 500 million yuan. Among them, the guidance fund invests 100 million yuan respectively, and the rest is self-raised by venture capital companies. The structure of these funds follows the "one fund + one fund management company" model.
The Suzhou Guidance Fund continues to work hard. The Sino-Singapore High-tech Industry Investment Fund has been approved by the National Development and Reform Commission and has been approved to prepare for the establishment of fund companies and selected fund managers. The total scale of the China-Singapore Fund is RMB 10 billion, and RMB 5 billion will be raised in the first phase.
"Through this lever to support the development of emerging industries, through venture capital to introduce venture capital into the local area to form a financial investment and venture capital financial environment; at the same time, through the involvement of venture capital, local enterprises can be standardized operation, restructuring, listing Quickly enter the capital market and help the local to form a leading and advantageous industrial group. "The person said.
In his view, the government's funds can also be operated in a market-oriented manner. In addition, the government's intentions can be implemented and implemented through economic leverage. At the same time, the operating efficiency of state-owned capital can also be improved through marketization.
It is worth mentioning that on October 30, 2009, 20 new venture capital funds were collectively unveiled, and the total size is expected to exceed RMB 9 billion. Among them, the central government injected 1 billion yuan, local governments contributed 1.2 billion yuan, and the society raised nearly 7 billion yuan.
Equity Investment Fund Leverage
When the urban economy has gathered enough venture capital, and enough venture capital institutions have also been gathered, the investment environment has been activated, which will promote the development of local industries. From the perspective of Ni Zhengdong, president of Zero2IPO Group, it can be said that equity investment funds are "the driving force for innovation and upgrading of the Chinese economy in the next 30 years."
It is worth mentioning that the craze for equity investment funds has gradually emerged in Guangdong. In September 2009, China Science and Technology Baiyun Fund was jointly initiated and established by China Science and Technology Merchants, Guangdong Airport Management Group Company, Guangzhou Kaide Technology Innovation Investment Co., Ltd., etc., with a total scale of 5 billion yuan. Merchants carry out professional management and currently have multiple reserve projects.
The total scale of the Guangdong Green Industry Investment Fund is 5 billion yuan, which was also officially unveiled in 2010. It is composed of 50 million yuan of government guidance funds and 4.95 billion yuan of social funds. The establishment of the fund gave full play to the guidance and amplification of special government funds, promoted the combination of policy guidance funds and social financial capital, increased investment and financing support for the energy-saving and emission-reduction technology industry in our province, and effectively promoted the green lighting in our province The good and fast development of the industry is an important measure to implement the "Outline for the Reform and Development Plan of the Pearl River Delta Region" and improve the innovation and entrepreneurship financing environment. It is a concrete manifestation of the first trial in financial reform and innovation and the creation of new advantages of the system and mechanism.
However, compared with Tianjin, Guangdong still has a gap. Compared with the Pearl River Delta and the Yangtze River Delta, Tianjin has taken full advantage of the policy advantages of financial reform and innovation, and actively promoted the accelerated development of equity investment funds. Take the lead in promulgating domestic equity investment fund registration and filing management measures to support the registration and accumulation of various equity investment funds in Tianjin. Initiated the establishment of the nation's first equity investment fund association to carry out self-discipline in the equity investment fund industry. Set up Binhai International Equity Exchange and Tianjin Equity Exchange to build an equity investment fund trading exit platform. As of the end of 2009, there were 335 equity investment funds and fund management companies registered in Tianjin, with a registered capital of 68.5 billion yuan, leading the country in terms of number and scale, and becoming the gathering place for equity investment funds in China.
Among them, Bohai Industrial Investment Fund, as the first large-scale RMB industrial investment fund approved by the state, has a total scale of 20 billion yuan and raised 6.08 billion yuan in the first phase. At present, the operation is in good condition, and has invested in several projects such as Tianjin Steel Pipe Company, Chengdu Commercial Bank and Chery Automobile Company. On November 9, 2009, with the approval of the State Council, the National Development and Reform Commission approved the establishment of a shipbuilding industry investment fund in Tianjin Binhai New Area. This is the first large-scale shipbuilding industry investment fund in China and an important financing channel for China to accelerate the development of the shipping industry. The fund has a total scale of 20 billion yuan and raised 2.35 billion yuan in the first phase. At present, 46 large ships and special ships have been purchased.
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