Financial state capital backing Shanghai test shortage Investment mechanism transformation

Hu Haiyun 2 billion yuan, 2 state-owned venture capital company, so opened the Shanghai state-owned investment mechanism transformation of the big curtain. Shanghai intends to overhaul the state-funded investment mechanism with financial and state-funded backing.　　In order to provide SMEs with more financing support, while driving the Shanghai economy better and faster transformation. Yesterday, 6 scientific and technological enterprises in Pudong New Area of Shanghai received financing support from Pudong Science and Technology Investment Co., Ltd. and Zhangjiang Technology Investment Co., Ltd. about 340 million yuan.　　This is the first time in Shanghai state-owned investment companies to play a "venture capital" role, direct investment in small and medium-sized technology enterprises.　　Allow investment losses in the past because the operating mechanism is not fundamentally different, so the state-owned investment companies and investment institutions in the market in the project recognition of the same values, generally inclined to invest in mature and Pre-ipo projects, the start-up period of technology companies at a respectful distance. Now, "We are going to change the investment phase, the main investment in the start-up period of enterprises, not the pursuit of Pre-ipo, not profit-oriented."　　Lu Fangzhou, director of the National capital of Pudong New area. But for the start-up of small and medium-sized technology enterprises, the direct investment will inevitably bring risks, this and state-owned assets to maintain and increase the demand for a certain conflict. "We allow investment losses, as long as the investment decision is complete, is through the corresponding procedures, (loss) can be given the write-off." The government will also co-ordinate financial and state funding and continue to add capital to the state-owned VC companies to ensure their continued development.　　Lu Fangzhou, director of the National capital of Pudong New area.　　However, when the first Financial Times reporter asked how much can tolerate the failure of investment, Land Ark replied: No specific ratio. As the first pilot area, Pudong began to explore the Shanghai city's national investment Mechanism reform program. Recently, the Pudong New Area government executive meeting to consider and principles adopted the "through Pudonko Investment, Zhangjiangko investment support high-end talent gathered in Pudong to carry out scientific and technological entrepreneurship Pilot Program", the program is clear, in the "Twelve-Five" period, the overall arrangement of 2 billion yuan, through the Pudonko cast, Zhangjiangko cast 2 state-owned venture　　Investment support a group of high-end talent entrepreneurship projects. Construction of the national capital circulation "We are to build a new state-funded cycle mechanism, from the previous enterprises in the small cycle, into the government of the big cycle."　　"Lu Fangzhou said.　　Lu Fangzhou explained that the so-called large circulation, reflected in the company's assessment, loss write-off, performance incentives and additional capital. First of all, the evaluation and evaluation mechanism of Pudonko investment and Zhangjiangko investment, Lu Fangzhou said that the assessment is no longer a single profit for the pursuit of indicators, but to consider the construction of an investment project comprehensive evaluation system, in addition to profits, but also mainly include the investment projects of scientific and technological innovation, the promotion of the role of　　Employment and attracting social capital investment.　　The assessment will be organized regularly by the relevant authorities, and if Pudonko and Zhangjiangko are performing well in the comprehensive assessment, they will be rewarded by the Government's financial incentive Fund, as well as by the management team. Pudonko Investment general Manager Li Yongjun to this newspapersaid that for investment companies, the biggest risk is the project itself, so in the selection of projects, due diligence, after the investment supervision, will play a more professional team experience.　　It is understood that in the selection of projects, the company will rely on professional investment institutions (with the listing of investment projects) the ability to judge, as far as possible to invite their joint investment, the two sides conducted due diligence, the results of mutual confirmation, improve the quality and level of project selection. In order to attract the investment organization to invest together, when the project investment fails, Pudonko and Zhangjiangko investment can bear the loss before the market organization.