The central government to vote 1 billion behind LED and other emerging industries

After the first batch of 20 industry fund, the Ministry of Finance and the national development and Reform Commission in 9, jointly issued the "new industry venture capital program shares of venture capital fund management Interim Measures" clear, the central fiscal funds through direct investment venture, shares of venture investment funds, to cultivate and promote the development of new industries.

The main investment areas: energy saving and environmental protection, information, biology and new medicine, new energy, new materials, aerospace, marine, advanced equipment manufacturing, new energy vehicles, high technology service industry and other strategic emerging industries and high technology to transform and upgrade traditional industries in the field. Secretary General of China Association of limited partners Xu Gang believes that the NDRC move, not only to mobilize the enthusiasm of the local, but also to enlarge the financial effect, to promote China's economic growth is the next pillar industries.

May not invest in Listed Companies

The central government will once again equity venture capital fund to support enterprises to seize the new round of technological revolution and the commanding heights of the industrial revolution.

Equity venture capital fund refers to the central government from industrial technology research and development funds and other special funds allocated funds and local government funding, social capital jointly initiated the establishment of venture capital funds or by way of capital in the existing venture investment fund.

The "measures" provisions, each equity fund should focus on investment in energy conservation and environmental protection, information, biology and new medicine, new energy, new materials, aerospace, marine, advanced equipment manufacturing, new energy vehicles, high-tech industry and other strategic emerging industries and high technology to transform and upgrade traditional industries. At the same time, it is not allowed to invest in listed companies, and may not engage in real estate.

In addition, equity funds have focus on original innovation and integrated innovation and re innovation of innovative enterprises digestion and absorption properties, and in the start-up phase or early stage, the proportion of capital investment in such enterprises is not lower than the fund registered capital or capital contribution commitment 60%.

The central government's contribution to each equity fund, in principle, does not exceed 20% of the registered capital of the equity fund or committed capital contribution, and with the local government funds with the same. The proportion of funds invested in the start-up phase of the project more than 70% of the registered capital of the equity fund or committed capital contribution of the equity fund, may be appropriate to relax the proportion of the central government funded equity ratio. The duration of the shares of the fund does not exceed 10 years in principle, generally through the expiration of liquidation, social shareholders repurchase, equity transfer, etc..

Chinese Limited Partners Association Secretary General Xu Gang told reporters in Nandu, the national venture capital fund relies on the cooperation of state and local governments, to attract social capital to set up venture capital fund jointly launched, according to local industry characteristics and regional advantages. The first batch of 7 provinces and cities in Beijing, Shanghai, Shenzhen conducted a pilot, the establishment of a venture capital fund 20. Allegedly, the second batch of venture capital fund is also the number of 20, is expected to be completed before the end of the three quarter. According to 20% estimates, the central government invested 1 billion yuan, the same size as the first batch.