Legal analysis: investment funds should play three functions: direct investment, promoting the development of leading industries in the park and cultivating and developing emerging industries. The investment fund can make staged equity investment in major industrial projects and major scientific research projects decided by the Changsha Industrial Investment Fund Management Committee, cooperate with the park in our city to set up sub-funds in line with the industrial orientation of the park, invest in emerging industries in our city through follow-up investment, and guide and promote the adjustment, transformation and upgrading of Changsha's industrial structure.

Legal basis: Measures of Changsha Municipality for the Administration of Industrial Investment Funds.

Article 3 Investment funds play three major functions: direct investment, promoting the development of leading industries in the park and cultivating and developing emerging industries. The investment fund can make staged equity investment in major industrial projects and major scientific research projects decided by the Changsha Industrial Investment Fund Management Committee, cooperate with the park in our city to set up sub-funds in line with the industrial orientation of the park, invest in emerging industries in our city through follow-up investment, and guide and promote the adjustment, transformation and upgrading of Changsha's industrial structure.

Article 4 Investment funds shall follow the requirements of making the market play a decisive role in resource allocation and giving full play to the role of the government, and conduct investment operations in accordance with the principles of government guidance, classified management, market operation, scientific decision-making and risk prevention.