Officially issued!Starting from October 1 →

The revised draft (hereinafter referred to as the "revised draft") was officially issued and implemented on October 1st and implemented on October 1. The relevant person in charge of the management committee of the Xiamen Free Trade Zone said that the revised draft aims to further standardize the management of the industrial guidance funds in the area, grow and strengthen government guidance fund investment scale, and help enterprises in the trolley area to achieve high -quality development.

This guidance fund refers to a policy fund that is established by the Management Committee of Xiamen Free Trade Zone and operated in accordance with the market -oriented manner. The guidance fund can participate in the equity investment fund, M & A fund, etc. Sub -fund. The joint meeting of the Xiamen Free Trade Zone Industry Guidance Fund is the highest decision -making agency to guide the fund. The guidance fund invests in accordance with the principles of "government guidance, market operation, scientific decision -making, and preventive risks." The guidance fund attracts social capital to jointly initiate the establishment of an equity investment fund in the Xiamen Free Trade Zone, or participate in existing equity investment funds through capital increase.

The revised draft is suitable for the establishment and capital increase in the Xiamen Free Trade Area, and applying for a guidance fund to participate in the investment. The validity period is valid from October 1, 2022 to September 30, 2027.

Investment decisions are more flexible

For participating funds, the revised draft puts forward specific requirements from the aspects of establishing methods, capital contribution requirements, duration duration, commission management, custodian institutions, investment scale, fund investment, and return on investment.

In terms of establishment, sub -funds can choose the form of corporate or partnership system. The sub -fund management agencies must be established within half a year after the guidance fund approves the ginseng sub -fund plan.

In terms of the proportion of guidance funds, the revised draft has canceled the limit of a maximum investment of 100 million yuan. In principle, the proportion of participation does not exceed 20%of the size of the child fund. Special circumstances can be approved by the joint meeting. Essence The relevant person in charge of the Finance and Finance Bureau of the Xiamen Free Trade Zone said that this move is conducive to attracting greatness, giving the industrial guidance fund joint conference greater autonomy, and improving decision -making efficiency.

Specifically, the total funds raised by each sub -fund are not less than 100 million yuan in principle. In principle, the funds raised by the sub -fund are in place within the first period of the sub -fund to the three years from the first period of the subsidiaries. If the size of the sub -fund is within 2 billion yuan (inclusive), the first period of the first phase is not lower than the 30%of the total amount of the fund contribution; if the size of the sub -fund exceeds 2 billion yuan, the first phase of the capital is not lower than the total amount of the total amount of the subscription contribution. %, And all investors are funded in the form of currency.

In principle, the duration of the sub -fund does not exceed 7 years. If it is indeed required to extend the duration, the guidance fund trusted management agency reviews and reports to the joint meeting office, and agrees that it can extend up to 2 years.

The revised manuscript requires that the management structure of the sub -fund legal person must meet the legal requirements, and the entrusted professional fund management institution is responsible for the daily investment and management of the sub -fund; Selection.

The scope of the return is wider

The establishment of an industrial guidance fund aims to guide and support social capital to participate in investment. The sub -fund should focus on investing in key enterprises such as aviation services, international trade, shipping logistics, cross -border e -commerce, financial services, cultural trade and services, integrated circuit R & D and design, headquarters economy, high -end manufacturing, etc. Municipal enterprises related to industry -related industries. According to the relevant person in charge of the Finance and Finance Bureau of Xiamen Free Trade Zone, the investment scope of the sub -fund is wider and radiated to enterprises related to key industries in our city, which is conducive to the development of urban areas.

The revised draft requires the request for the return to the investment, and the industrial fund should be given priority to the enterprise within the Xiamen Free Trade Area. During the duration of the sub -fund, the total amount of funds invested in the Xiamen Free Trade Area production and operation enterprises is not lower than 1.2 times the amount of the guidance fund contributing to the sub -fund. It is determined in advance that the amount of investment in the Xiamen Free Trade Zone can be calculated. Industry guidance funds pay the corresponding fund management fee to the sub -fund to match the progress of the funding of the sub -fund.

Investment income is closer to the market

The revised draft clearly adopts the "same shares and rights+rewards contribution" mechanism, so that the managers with many contributions and investment in investment and investment benefits have won more rewards, and at the same time make the guidance fund closer to the market.

Specifically, the Management Committee of Xiamen Free Trade Zone guides the fund to participate in the investment subsidiaries in principle. In the case, appropriate rewards of sub -fund managers.

The above incentive clause shall be agreed by the management agency in the investment agreement document of the sub -fund. Before the execution of the incentive, the subsidiary fund manager shall apply and attach the actual implementation of the industrial investment or investment promotion of the Xiamen Free Trade Zone. , Decisions of the CCP meeting.

After the guidance fund withdraws from the sub -fund, if the guidance fund recovers costs and obtains profits, a certain proportion of the profits of the guidance fund can be rewarded to the guidance fund entrustment management agency.

【Application conditions】

The sub -fund that apply for guidance fund to participate in the establishment of the establishment shall meet the following conditions:

(1) Social funders have been implemented. In principle, in addition to the application for government guidance funds during the application, other interested society investors promise the amount of capital contribution should not be less than 50%(inclusive) in the social capital contribution in the establishment of a sub -fund, and provide a letter of commitment or a letter of commitment or a commitment to the investor or the commitment letter of the investor or The signing partnership agreement/entry agreement, fundraising commitment letter and other materials to ensure that the funds are in place in a timely and full amount in accordance with the agreement when the fund is established;

(3) Sub -fund management teams or management agencies shall participate in or subscribe to a certain share in the sub -fund according to the size of the sub -fund. The specific calculation method is as follows: The size of the sub -fund is below 2 billion yuan (inclusive), and the actual contribution ratio is not less than 1%; the part of more than 2 billion yuan to 5 billion yuan (inclusive), the proportion of the actual contributions is not less than less than less than less than less than). 0.5%; parts of more than 5 billion yuan, the actual contribution ratio is not less than 0.25%;

(4) In addition to the representatives of government investors at all levels, the investors of the sub -fund are more than two or more (including 2) and should be a qualified investor with certain risk recognition and affordability, and provide it. The funding commitment letter, proof of capital contribution, and commitment letter of fundraising for the investor;

(Text/Xiamen Daily reporter Wu Xiaojing correspondent Zhou Ying Chen Xinzhong)

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