China introduces new rules on government investment fund allocation
...the results would be released through a registration system.
China’s top economic planner, the National Development and Reform Commission (NDRC), on Monday issued a trial regulation to improve the evaluation and management of government investment fund allocations.
The commission said the move was aimed at ensuring that the funds were better utilised to serve national development strategies, promote industrial upgrading and support innovation and entrepreneurship.
According to the NDRC, the regulation underscores the importance of allocation evaluations in guiding government investment funds to align with national industrial policies and support the development of a modern industrial system.
It also called for stronger coordination between national-level funds and local government funds to back major national strategies, key sectors and areas where market mechanisms were seen to be weak.
The regulation outlined evaluation criteria focusing on the performance of funds in supporting national strategies, including the development of new quality productive forces, technological innovation and the commercialisation of research outcomes, patient capital and public welfare.
Other indicators would assess alignment with regional development strategies, priority investment areas, efficient capacity utilisation and policy implementation.
The NDRC said the final evaluation results would be communicated to provincial governments, relevant departments, evaluated entities and related financial institutions.
It added that the results would be released through a registration system.