Article 24 The development and reform commissions and finance departments (bureaus) of all provinces (autonomous regions, municipalities directly under the Central Government and cities with separate plans) shall, according to local conditions and the requirements of these Measures, organize the preparation of equity fund establishment plans or capital increase plans (see Annexes 2 and 3 for details) and jointly submit them to the National Development and Reform Commission and the Ministry of Finance for review.

Article 25 The National Development and Reform Commission and the Ministry of Finance shall organize experts to review the submitted plans, and entrust the entrusted management institution to conduct due diligence and equity negotiation on the funds to be subscribed.

Article 26 The development and reform commissions and finance departments (bureaus) of all provinces (autonomous regions, municipalities directly under the Central Government and cities with separate plans) shall, according to the evaluation opinions, revise and improve the equity participation fund scheme, and jointly submit the formal scheme to the National Development and Reform Commission and the Ministry of Finance after the investors sign relevant agreements, and apply for the central financial contribution quota.

Article 27 The National Development and Reform Commission and the Ministry of Finance shall, with reference to the due diligence opinions of the entrusted management institutions, formally confirm the equity participation fund plan and reply to the central financial contribution. The Ministry of Finance will transfer the central financial contribution to the custody account, and the entrusted management institution will transfer it to the equity participation fund account.