The main contents of the concept of establishing a state-owned securities investment fund

(1) Bring together the state-owned shares (state-owned shares and state-owned legal person shares) of listed companies and establish them according to the regulations of the central and local state-owned assets management committees. The affiliations are to establish national state-owned securities investment funds and local state-owned securities investment funds respectively.

(2) More than two state-owned securities investment funds can be established in the country; in principle, only one local state-owned securities investment fund can be established. However, there are many listed companies in Shanghai and Shenzhen, and there are also many financial talents. In many places, more than two can be established.

(3) The state-owned shares of listed companies held by state-owned securities investment funds are converted into fund units based on the net asset value and taking into account factors such as the rate of return on net assets. It will be held by the Social Security Fund, the original state-owned shareholders and the State-owned Assets Management Committee in proportions of 20, 30 and 50 respectively.

(4) If the original state-owned shares are pledged, the corresponding fund units shall be pledged instead.

(5) Fund units will not be listed and circulated until the problem of listing and circulating state-owned shares is resolved (that is, they cannot be transferred through the secondary market through centralized and continuous bidding), but they can be transferred over-the-counter through market makers. When the issue of listing and circulating state-owned shares is resolved, or when the number of public holders of corresponding fund units reaches a certain amount, and the number of fund units held reaches a certain proportion, listing transactions can be arranged.

(6) The original state-owned shares held by state-owned securities investment funds cannot be listed for circulation, unless the state-owned shares have been reduced in size (such as reduction based on price-to-book ratio, etc.), then they can be listed and circulated in a controlled manner, or although the state-owned shares have not been After the share reduction, the shareholding can be reduced with the consent of the majority of shareholders of tradable shares.

(7) The principles and procedures for the listing, circulation, share reduction or reduction of original state-owned shares held by state-owned securities investment funds shall be formulated by the State Council with the authorization of the National People's Congress.

(8) For the qualifications, selection, etc. of custodians and managers of state-owned securities investment funds, please refer to the existing "Securities Investment Fund Management Measures" and the relevant provisions of the "Securities Investment Fund Law" to be implemented Provisions are enforced.