25 billion yuan
Focus on investing in
6 major fields
Infrastructure construction ● Ten hundred billion industries ● New urbanization construction ● Cultural tourism projects ● Urban renewal and transformation ● Attracting investment
Many investment concessions
● Investing in major project library projects
All the benefits are transferred
. 1, yuan newspaper April 9 (Reporter Wang Bin) This morning, the promotion meeting and signing ceremony of Jinan New and Old Kinetic Energy Conversion Fund held by the municipal government was held. Wang Zhonglin, Deputy Secretary of the Municipal Party Committee and Mayor, attended the event.
Accelerating the conversion of old and new kinetic energy is a major decision of the CPC Central Committee and the State Council, a major strategic arrangement of the provincial party committee and government, and a major historical choice for Jinan's economic and social development, which is of great significance. At the beginning of this year, the State Council gave a formal reply to the Overall Plan for the Construction of Shandong New and Old Kinetic Energy Conversion Comprehensive Experimental Zone. As an important "one core" of Shandong's "three cores leading" the transformation of old and new kinetic energy, Jinan has been entrusted with a heavy responsibility to plan and build a pioneering area for the transformation of old and new kinetic energy at a high level. The Municipal Party Committee and the Municipal Government attach great importance to this, and set 218 as the first year of the construction of the new and old kinetic energy conversion pioneer area, and regard the construction of the pioneer area as one of the "four major battles", and propose to promote the construction of the new and old kinetic energy conversion pioneer area with the help of the whole city. At present, the draft "Master Plan of Jinan New and Old Kinetic Energy Conversion Pioneer Zone (218-235)" has been compiled and officially announced to the public.
at this promotion meeting, our city initiated the establishment of Jinan new and old kinetic energy conversion fund with a total scale of not less than 25 billion yuan. The fund adopts a three-level linkage investment structure of government guidance fund, parent fund and sub-fund. Among them, at the first level, the municipal, county and district finances invested 3 billion yuan to set up a government guidance fund for the conversion of old and new kinetic energy; The second level attracts financial institutions, enterprises and other social capital investment by guiding fund injection, and strives for the support of Shandong Province's new and old kinetic energy conversion funds to form a parent fund group with a scale of not less than 1 billion yuan; At the third level, the parent fund will participate in a number of sub-funds through investment to incite all kinds of social capital. After three to four years, the total fund scale will be no less than 25 billion yuan. The fund will focus on infrastructure construction, 1 billion industries, new urbanization, cultural tourism projects, urban renewal and transformation, and investment promotion and mergers and acquisitions.
at the meeting, our city introduced the key investment projects of new and old kinetic energy conversion, and signed cooperation framework agreements with representatives of fund companies, financial institutions and project companies.
Xu Qun, member of the Standing Committee of the Municipal Party Committee and deputy mayor, Wang Hongzhi, member of the Standing Committee of the Municipal Party Committee and director of Jinan High-tech Zone Management Committee, Li Zijun, deputy mayor, Wang Bozhi, vice chairman of CPPCC and chairman of Sinotruk Group, and Mao Huaming, secretary general of the municipal government attended the event.
investment structure
in principle, the proportion of industrial venture capital, new urbanization, cultural tourism, and investment promotion and merger funds shall not be less than 7%, and the proportion of infrastructure and urban renewal funds shall not be higher than 3%.
investment ratio
The proportion of the parent fund contributed by the guiding fund shall be arranged differently according to the positioning of the parent fund, the difficulty of fundraising and other factors;
The parent fund's investment in a single sub-fund generally does not exceed 4% of the total size of the sub-fund;
In principle, the investment of a sub-fund in a single enterprise shall not exceed 2% of the total size of the fund.
investment area
parent funds of infrastructure, new urbanization, cultural tourism and urban renewal, in principle, invest in Jinan projects;
parent funds such as industrial venture capital and investment promotion and merger, which account for a high proportion of funds outside the city, will invest in Jinan at least 7%.
the establishment of a new and old kinetic energy conversion fund with a total scale of not less than 25 billion yuan in our city has aroused widespread concern. How will the fund operate, what areas will it invest in, and what are the benefits for Jinan? The reporter conducted an in-depth interview on this.
building a modern green and smart new city in the pioneer area
On January 3, 218, the State Council approved the overall plan for the construction of a comprehensive experimental zone for the conversion of old and new kinetic energy in Shandong, which was the first regional national development strategy approved after the 19th National Congress and the first regional development strategy in China with the theme of conversion of old and new kinetic energy.
in order to implement the deployment of the central government, the provincial party Committee and the provincial government, our city is planning to build a pioneering area for the conversion of old and new kinetic energy along the Yellow River with a high starting point, high standards and high level, to gather intensive innovative factor resources, develop high-end and efficient emerging industries, create a new platform for open cooperation, innovate urban management mode, comprehensively improve infrastructure and public services, and build a modern green and smart new city.
with regard to the idea of transforming old and new kinetic energy, our city proposes that, firstly, we should connect with the provinces and adhere to the development path of "four innovations" and "four modernizations". By developing new technologies, new industries, new formats and new models, we will promote the industrial intelligence of traditional industries, the intelligent industrialization of emerging industries, the cross-border integration of the first, second and third industries, and the high-end brands of corporate brands, industry brands, regional brands and geographical indication brands. Give priority to the development of major industrial projects closely related to the "5+5" top ten strong provinces and the "1 billion industries" in Jinan. Build a modern provincial capital city that is "big, strong, beautiful, rich and connected", build a new highland of innovation and entrepreneurship between Beijing and Shanghai and a new highland of headquarters economy, and build an important regional economic center, financial center, logistics center and scientific and technological innovation center in China. Second, we must firmly establish the concept of "project first" and focus on cohesion to promote it. Further strengthen project awareness and project thinking, focus on projects, pay close attention to projects, especially those projects with strong agglomeration ability and good economic benefits, which are conducive to the city's industrial transformation and upgrading, and the transformation of old and new kinetic energy. We must advance quickly, solve problems and provide excellent services. Third, we should speed up the innovation of system and mechanism, and make full use of the right to reform, experiment and advance. We will demonstrate in reform and opening up, innovation-led, "four innovations" economy and urban governance, and strive to create a streamlined and efficient government ecology, a dynamic innovation and entrepreneurship ecology, a natural ecology that highlights charm, and a social ecology that is honest and ruled by law.
The establishment of the fund highlights specialization, regionalization and industrialization
According to the person in charge of the financial department, the establishment of the new and old kinetic energy conversion fund is an important step for our city to implement the State Council's Reply on the Overall Plan for the Construction of the Comprehensive Experimental Zone for the Conversion of New and Old Kinetic Energy, a key measure to implement the spirit of the mobilization meeting of major projects for the conversion of new and old kinetic energy in the whole province, and to accelerate the "1+454" system in Jinan, and plan and construct the national conversion of new and old kinetic energy with a high starting point, high standard and high level.
in order to set up Jinan's new and old kinetic energy conversion fund, the Municipal Finance Bureau, together with China Development Finance Co., Ltd., followed the operation ideas of "investment and loan cooperation" and "integration of industry and finance", highlighted the characteristics of specialization, regionalization and industrialization, and mainly grasped three principles. First, government guidance and market operation. City, county and district governments arrange special financial funds, integrate existing government investment funds, and at the same time leverage social capital to operate in a market-oriented way, so that professionals can do professional things. The second is openness and transparency, openness and tolerance. The fund is publicly raised to the public, and a number of incentive policies are comprehensively used to relax the investment threshold of the fund, treat all types of investors equally, and open the door to welcome social capital from all sides to participate. The third is to comply with the law and prevent risks. Formulate fund plans and management methods, and implement all-round management of fund investment direction, investment decision-making, income distribution, risk control, assessment and supervision, so as to improve the standardization level of funds.
fund term: the establishment period of the parent (subsidiary) fund is 1-25 years
In terms of fund establishment methods, the city has adopted a three-level linkage mode to build the overall structure of the fund. The fund adopts a three-level linkage investment structure of government-guided fund, parent fund and sub-fund. Among them, at the first level, the municipal, county and district finances invested 3 billion yuan to set up a government guidance fund for the conversion of old and new kinetic energy; The second level attracts financial institutions, enterprises and other social capital investment by guiding fund injection, and strives for the support of Shandong Province's new and old kinetic energy conversion funds to form a parent fund group with a scale of not less than 1 billion yuan; In the third stage, the parent fund will invest in several sub-funds to leverage various social capital, and it will take 3-4 years to form a total fund scale of not less than 25 billion yuan.
Our city has established a perfect fund investment mechanism. In terms of investment methods, equity investment is the main investment. Guide the fund to focus on supporting the establishment of the parent fund, but also according to the need to invest in sub-funds, if necessary, can directly invest in key projects identified by the municipal party Committee and the municipal government.
the parent fund can set up a sub-fund through subscription share, equity participation or capital increase, and can also arrange direct investment in key projects of new and old kinetic energy conversion in the city with a proportion not exceeding 5%.
in order to standardize the fund operation mode, our city mainly adopts the form of limited partnership, with each investor as the limited partner (LP) and the fund management company as the general partner (GP). In fund management, a guiding fund management company is established to be responsible for guiding fund management and parent (subsidiary) fund supervision; The parent fund can adopt the "single GP" mode or the "double GP" mode flexibly to carry out market-oriented operation and management.
in terms of fund term, the establishment period of the parent (subsidiary) fund is 1-25 years. After the expiration, there are still projects that have not been withdrawn, and the implementation period can be extended. In the distribution of fund income, according to the principle of "benefit * * * and risk * * *", according to the agreement of all parties involved in the fund.
focus on six major areas, including the top 1 billion industries
what areas will the fund invest in? Our city clearly stated that Jinan's new and old kinetic energy conversion fund should focus on six major areas. First, support infrastructure construction. Focus on infrastructure projects such as railways, highways, bridges, rail transit, airports and public services. The second is to support the top ten billion industries. Focus on the top 1 billion industries such as "big data and next-generation information technology, intelligent manufacturing and high-end equipment, quantum technology, biomedicine, advanced materials, industrial finance, modern logistics, medical care, cultural tourism, and scientific and technological services" determined by the municipal party Committee and the municipal government. The third is to support new urbanization. Focus on gas supply, water supply, heating, sewage purification, garbage disposal, ecological and environmental protection, medical care, education, culture, sports, pension and other fields. The fourth is to support cultural tourism projects. Focus on tourism infrastructure construction, scenic spot development, smart tourism, boutique tourism and so on. The fifth is to support urban renewal and transformation. Focus on shantytowns, urban village reconstruction and land acquisition and demolition. Sixth, support investment and mergers and acquisitions. Focus on supporting investment, encouraging enterprises to carry out mergers and acquisitions, and attracting overseas funds to invest in key projects in our city.
There are many concessions to maximize the benefits to social capital
In order to promote the conversion of old and new kinetic energy, our city has also put forward a series of preferential policies.
our city proposes to maximize the benefits to social capital. First, the fund invests in major projects of converting old and new kinetic energy, or invests in scientific and innovative projects in the seed stage and initial stage of the city, so as to guide the fund to transfer all the proceeds. Second, the fund invests in infrastructure and mature projects, and with the approval of the fund decision-making Committee, the guiding fund can appropriately transfer the part above the threshold rate of return agreed in the agreement. Third, during the duration of the fund, fund investors or other investors are encouraged to buy the equity or shares held by the guiding fund. Within two years, the original contribution of the guiding fund will be transferred, and within two to three years, the sum of the original contribution and the interest calculated by the one-year loan benchmark interest rate will be transferred.
in terms of management policies, funds are also relatively loose and convenient. First, in terms of capital contribution, the parent (subsidiary) fund can not only make parallel capital contribution, but also introduce structured design to improve financing efficiency. Second, in terms of capital contribution subscription, the proportion of capital contribution subscribed by fund management institutions can be reduced and the pressure of social capital contribution can be reduced for large-scale funds. Third, in the distribution of fund income, it can be determined by the guiding fund and other investors according to the actual situation of the fund, giving social capital more autonomy. Fourth, in the performance evaluation of funds, the comprehensive performance evaluation of fund policy objectives and policy effects is carried out, and the profit and loss of a single fund or a single project is not evaluated, so that the evaluation is more fair, scientific and objective.
Our city has also put forward a strong incentive and reward policy. The first is the settlement reward. Corporate private equity funds and partnership private equity funds will be rewarded according to the paid-in registered capital and the actual raised funds respectively, with a maximum subsidy of 15 million yuan. The second is institutional support incentives. Equity investment funds invest in non-affiliated enterprises in our city in the form of equity, and if certain conditions are met, they will be given a one-time reward of 2% of their investment amount, and the maximum reward for a single equity investment enterprise is 1 million yuan. The third is office space support. There are subsidies for equity investment enterprises that meet the settlement incentive policy to build, purchase and lease office buildings. The maximum subsidy for building and purchasing houses is not more than 5 million yuan, and the subsidy for renting houses is not more than 2 million yuan. The fourth is talent subsidy. According to the level of introducing financial talents and their contribution to the city's financial industry, we will give a living allowance of up to 1 million yuan, a one-time settlement allowance of 2, yuan for senior executives of enterprises, and a work allowance of 12, yuan every year for three years. At the same time, talents who meet the introduction policy will enjoy green channel treatment such as children's schooling, medical care, industry and commerce, taxation and household registration. In addition, social capital can also enjoy the regional preferential policies of Shandong New and Old Kinetic Energy Conversion Comprehensive Experimental Zone in Jinan. (Reporter Wang Bin)