On the supply side reform: government funds to guide social capital to run   – Fujian channel — people.com.cn original title: focus on the supply side reform: government funds to guide social capital to run 43 million yuan, Shandong ocean parking company can build 40 multi-storey vertical construction of underground garage, the end of last year the two government guide fund. 2 billion 400 million yuan, Inner Mongolia recently won the national PPP project investment guide fund. 2 trillion and 200 billion yuan, according to the Qing Branch group of private data, by the end of 2015, the government guide fund number close to 800, total assets under management reached trillion. Among them, only last year the newly established government guide fund, the size of funds amounted to 1 trillion and 500 billion yuan. In recent years, from the central to local government guide fund growth spurt. What is the reason behind? A huge amount of money to help the supply side reform, how to play the leading role and anti risk? In the specific operation, what are the problems? Drive the social capital to invest in the field of development of small and medium-sized enterprises "development of government guidance funds, is an important measure in the implementation of supply side reforms, the purpose is to guide and promote the social capital" short board ", investment in key areas and weak links." President Liu Shangxi Chinese Fiscal Science Research Institute said, according to the "interim management measures" government investment fund, the fund’s investment direction and includes four areas to support innovation and entrepreneurship, the development of small and medium-sized enterprises, industrial restructuring and upgrading, infrastructure and public services development etc.. The country’s emerging industries venture capital last year the newly established central government to guide the total fund size of 40 billion yuan, the total size of the National Development Fund for small and medium-sized enterprises amounted to 60 billion yuan. The person in charge of the Ministry, the National Development Fund for small and medium-sized enterprises mainly located in expanding the scale of equity investment in small and medium-sized enterprises, to promote entrepreneurship and innovation. Among them, the first national SME sub fund fell Shenzhen, funded by the central government, the Shenzhen municipal government, and attract tehua, strong private capital to join the galaxy, etc.. Small and medium-sized enterprises lack collateral, in the early days of the traditional bank credit financing mode is difficult to meet the investment needs. The establishment of the National Development Fund for small and medium-sized enterprises, is to break the financing expensive financing, an important measure to establish and support the development of SMEs market mechanism. The registered capital of China PPP fund is 180 billion yuan, in March this year by the Ministry of Finance and the domestic financial institutions jointly set up. The fund as a social capital to participate in the project, adhere to market-oriented, professional operation, mainly through equity, debt guarantees, etc., in the field of infrastructure and public services as well as other major PPP project to provide financing support. "The first signing of the project involves public transportation, shantytowns, urban and rural integration, is an important livelihood project, well reflects the guiding role of the fund." Liu Shangxi said. Generous like PPP there are a lot of funds. The day before, by the central government to guide the establishment of the national PPP guide fund first projects contracted floor, construction project of Inner Mongolia Hohhot rail line 2, 1 projects in Henan province and the city of urban and rural integration demonstration area selected. ) 聚焦供给侧改革:政府基金引导 社会资本跟跑–福建频道–人民网 原标题:聚焦供给侧改革:政府基金引导 社会资本跟跑   4300万元,能垂直地下施工建造40多层立体车库的山东大洋泊车公司,去年底获得了两只政府引导基金注资。24亿元,内蒙古日前获得国家级PPP引导基金项目投资。 2.2万亿元,据清科集团私募数据显示,到2015年底,政府引导基金数量接近800只,累计管理的资产规模达万亿级。其中,仅去年一年全国新设立的政府引导基金,资金规模就达1.5万亿元。   近年来,从中央到地方,我国政府引导基金呈井喷式增长。背后的原因是什么?巨额资金助力供给侧改革,如何发挥引导作用和防风险作用?具体操作中,存在哪些问题?   带动社会资本,投向中小企业发展等领域   “发展政府引导基金,是实施供给侧改革的重要举措,目的是引导和带动社会资本‘补短板’,投资重点领域和薄弱环节。”中国财政科学研究院院长刘尚希表示,根据《政府投资基金暂行管理办法》,基金的投资方向和领域主要包括支持创新创业、中小企业发展、产业转型升级、基础设施和公共服务领域发展等四个方面。   中央财政去年新设立的国家新兴产业创业投资引导基金总规模为400亿元,国家中小企业发展基金总规模达600亿元。   财政部有关负责人介绍,国家中小企业发展基金主要定位于扩大中小企业股权投资规模,促进创业创新。其中,首只国家中小企业子基金花落深圳,由中央财政、深圳市政府出资,并吸引特华、星河、喜之郎等民营资本加入。中小企业缺乏抵押品,在创业初期仅靠传统的银行信贷融资模式难以满足投资需求。设立国家中小企业发展基金,是破解“融资难”“融资贵”,建立支持中小企业发展的市场化长效机制的重要举措。   中国PPP基金公司注册资本为1800亿元,今年3月由财政部联合国内多家金融机构共同发起设立。基金作为社会资本方参与项目,坚持市场化、专业化运作,主要通过股权、债权、担保等方式,为基础设施和公共服务领域以及其他重大PPP项目提供融资支持。“首批签约的项目涉及公共交通、棚户区改造、城乡一体化等,是重要的民生工程,很好地体现了基金的引导作用。”刘尚希表示。   像PPP基金这样的大手笔还有不少。日前,由中央财政引导设立的国家级PPP引导基金首批项目签约落地,内蒙古呼和浩特市轨道1、2号线项目和河南省开封市城乡一体化示范区等建设项目入选。   企业壮大后政府资金收回滚动使用   “政府引导基金的数量和规模快速增长,主要与财政资金使用方式改变有关。”刘尚希认为,过去政府支持产业发展,很多时候就是直接给钱,直接给到项目和企业,相当于发补贴。这虽然可以起到一定作用,但整体效果并不理想,还会在资金分配中滋生腐败。现在,引导基金按市场化方式运作,当企业发展壮大后再根据约定退出,财政资金可以收回后滚动使用,让“一个钱当两个花”。   大洋泊车公司副总经理陈有刚介绍,公司主要从事机械式立体停车设备研发、制造、安装和维护等业务。去年底,公司利用获得的4300万元政府引导基金,加大研发投入,通过科技创新,提高了竞争优势。   “以市场化运作基金,既为市场腾了位,也为廉政强了身。”山东省财政厅厅长于国安介绍,目前,山东已设立19只省级政府引导基金,参股设立51只子基金,初步形成具有不同政策导向的基金群。为吸引社会资本参与,对投资种子期小微企业、现代农业以及城镇基础设施等公益项目,引导基金可以把享有增值收益的50%、40%、20%分别让渡给社会资本出资人。其中,投资脱贫任务重点县境内的企业和项目,引导基金让利比例由40%提高到70%;投资省定贫困村的,让利比例提到100%。   政府引导基金对企业的支持,不仅体现在资金上。有些企业生产经营很好,但负债比较高,银行为了防控风险可能会抽贷。而引导基金以股权方式进驻后,企业信用增加、债务风险下降,能够带动更多资本沉淀到实体经济中。而且,引导基金的具体投资运作由专业化团队“操刀”,有利于约束政府有形之手,真正让市场在资源配置中起决定性作用。   确保资金投向实体经济,避免“钱炒钱”   从一些地方的实际情况看,政府引导基金因制度设计不健全,还存在不少问题。比如,股权投资引导基金在具体运作中,重复设立、数量过多,造成资金分散使用,无法形成“拳头”效应。政府对引导基金的行政干预比较普遍,代替管理团队决策、干预投资项目选择,甚至出现层层审核项目等现象。   “做好政府引导基金工作,关键要把政府的手与市场的手有机地结合起来,消除阻力、形成合力。”刘尚希认为,财政资金与社会资本联手合作,既要引导投资方向,又要兼顾投资回报,这个度要把握好。   对政府来说,既要坚持市场运作、防止行政干预,又要坚持科学监管,避免形成监管盲区。特别是要统筹安排财政资金,合理控制基金规模与投向,不能重复设立、新铺摊子,更不能一哄而上全覆盖,要将工作重点放在已设立的基金上,尽快形成投资、发挥效益。政府引导基金绝不能作为融资工具、融资平台,将政府资金劣后变成了亏损兜底、财政担保,甚至通过基金对外举债,明股暗债加大财政风险。   同时,还要科学界定引导基金投资领域,对引导基金实行负面清单管理,确保资金投向实体经济,避免“钱炒钱”。根据规定,政府引导基金有七大业务领域“禁止入内”,包括:不得从事融资担保以外的担保、抵押、委托贷款等业务,不得投资二级市场股票、期货、房地产、证券投资基金、评级AAA以下的企业债、信托产品、非保本型理财产品、保险计划及其他金融衍生品,不得吸收或变相吸收存款或向第三方提供贷款和资金拆借等。对于没有盈利的纯公益性项目,则应纳入公共财政保障范畴,不适合作为基金的投资对象。   “只有厘清政府与市场的边界,政府把该管的管好,把市场的交给市场,政府引导基金才能更好地发挥作用,使经济发展动力更强劲。”刘尚希说。 (责编:吴舟、施云娟)相关的主题文章: