The Interim Measures for the Administration of Government Investment Funds issued by the Ministry of Finance clearly stipulates that the establishment of investment funds by the government shall be approved by the financial department or the financial department in conjunction with the relevant industry authorities.
The "Measures" pointed out that financial departments at all levels should generally set up investment funds in the following areas: supporting innovation and entrepreneurship; Support the development of small and medium-sized enterprises; Support industrial transformation and upgrading; Support infrastructure and public services.
The Measures pointed out that the establishment of government investment funds can take different organizational forms such as company system, limited partnership system and contract system.