They are the same thing. What you may want to ask is the difference between government investment funds and government guidance funds. The difference is that government-guided funds mainly support the development of equity investment funds in the form of equity participation, that is, they operate in the form of parent funds. Government investment funds operate in the form of equity investment, including direct investment and equity participation funds. In practice, local governments tend to set up equity investment funds for a certain industrial field, also known as industrial investment funds.
What is the government guidance fund?
The term government guidance fund comes from Zhongguancun Venture Capital Guidance Fund, which means to guide social capital investment through government funds and credit. Zhongguancun Venture Capital Guidance Fund was established in 2002. At that time, Zhongguancun Science Park, as an experimental field, drew lessons from Israel's successful experience in developing venture capital, attracted social funds to invest in Zhongguancun Science Park enterprises, and created a precedent for government financial funds to operate in the form of equity investment. After several years of trial, this practice has been recognized by the relevant state departments. In 2005, the National Development and Reform Commission and other ten ministries and commissions jointly issued the Interim Measures for the Administration of Venture Capital Enterprises. Article 22 of the Measures proposes that "the state and local governments may set up government guidance funds for venture capital, and support the establishment and development of venture capital enterprises through equity participation and financing guarantee." In 2006, the Zhongguancun Science Park Management Committee set up the Zhongguancun Venture Capital Guidance Fund with a scale of 500 million yuan. Venture capital guiding fund mainly operates in the form of equity participation, that is, equity participation in venture capital enterprises Guiding fund is actually a kind of parent fund, that is, it operates by investing in other equity investment funds.
What is a government investment fund?
Term government investment funds are generated on 20 15. On October 20 15, 1 1 year 10, the Ministry of Finance promulgated the Interim Measures for the Administration of Government Investment Funds. Article 2 of the Measures defines government investment funds, that is, "government investment funds refer to funds set up by governments at all levels through budgetary arrangements, which are funded separately or jointly with social capital, and adopt market-oriented methods such as equity investment to guide all kinds of social capital to invest in key areas and weak links of economic and social development and support the development of related industries and fields." The biggest feature of government investment funds is to operate in the form of equity investment. In the past, a large number of financial funds supported the development of enterprises in the form of free grants and loan interest subsidies, while the establishment of government investment funds was a market-oriented operation and a paid way. Investment funds funded by the government shall be reported to the government at the same level for approval by the financial department or the financial department in conjunction with the relevant industry authorities.