In Depth Analysis of Chinese Government Guided Funds: Based on the Comparison of Scottish Co-investment Fund

Jiang Shiji
2021 International Journal of Economics Finance and Management Sciences  
As the main policy tool of our government to promote entrepreneurship and innovation and support the development of scientific and technological small and medium-sized enterprises, it has been nearly 15 years since the large-scale implementation in 2008. The introduction and implementation of the guiding fund policy has significantly activated the investment and financing activities of the venture capital industry, expanded the capital supply and investment of the industry, and played a better
more » ... uiding effect on social capital. However, in recent years, while the new government guidance fund in China has cooled down year by year, there is a problem of insufficient actual investment of a large number of government funds. Behind it reflects many difficulties and contradictions in the actual operation of the guidance fund, which directly leads to the dormancy of some guidance funds and fails to give effective play to the guidance efficiency and support industrial development. In contrast, the Scottish joint investment fund has better solved the above problems in terms of public finance objectives and financial performance objectives, and its operation mode is worthy of our government's guidance fund for reference. By comparing the operation mode of Scottish joint investment fund, this paper puts forward that China should improve the contribution proportion of guidance fund by combining regional industrial advantages; Appropriately relax regional restrictions, broaden fund exit channels and other optimization strategies, and promote the government to guide the healthy operation of funds and the high-quality development of regional economy.
doi:10.11648/j.ijefm.20210905.14 fatcat:ouhwkbebozamvfinvj7zfsnrbu