Chapter I General Provisions

Article 1 In order to further standardize the management of Liaoning Industrial Investment Fund (hereinafter referred to as the Liaoning Fund), enhance the marketization and professionalization of the management, and better play the leading and driving role of the financial funds, these Measures are formulated in accordance with relevant policies and regulations on the management of government investment funds.
Article 2 The Liaoning Fund referred to in these Measures is a policy fund funded and established by the provincial government and operated in a market-oriented manner. The purpose of Liaoning Fund is to attract and mobilize social capital to invest in industrial development and industrial support projects in Liaoning Province, accelerate the cultivation of modernized industrial system and promote the revitalization of Liaoning.
Article 3 Liaoning Fund shall accelerate industrial digitization, digital industrialization and improve the local supporting rate of head enterprises, local transformation rate of scientific and technological innovation achievements, growth rate of scientific and technological enterprises, and introduce and expand new kinetic energy as the goal, and closely around the construction of "Digital Liaoning, Intelligent Province", and do a good job in industrial structure adjustment. We will focus on the strategies of building "Digital Liaoning, Intelligent Province", doing a good job in the "three big articles" of industrial restructuring, constructing the regional development pattern of "one circle, one belt and two districts", supporting the high-quality development of county economies, and implementing a number of major projects, focusing on key industries and major projects, and providing investment guidance to promote the high-quality development of the economy. Investment guidance to promote high-quality economic development.
Article 4: The source of funds of Liaoning Fund is the funds arranged by the general public budget of the provincial government, governmental fund budget, and the proceeds of Liaoning Fund.
Article 5: Liaoning Fund invests and operates in accordance with the principles of "government guidance, market operation, scientific decision-making and risk prevention".

Chapter II: Management Structure and Organizational Responsibilities

Article 6: The management structure of Liaoning Fund consists of decision-making layer, management service layer and operation layer. The decision-making layer is the Liaoning Fund Management Committee (hereinafter referred to as the Management Committee), the management service layer is the Office of the Liaoning Fund Management Committee (hereinafter referred to as the Office) and the relevant departments of the provincial government, and the operation layer is the Liaoning Fund management organization.
Article 7 The Management Committee shall be the investment decision-making body of the Liaoning Fund and shall make decisions on major matters concerning the Liaoning Fund. The management committee consists of the vice governor in charge of the daily work of the provincial government as the chairman, the relevant vice governor as the vice chairman, and the main responsible comrades of the Provincial Development and Reform Commission, the Provincial Science and Technology Department, the Provincial Department of Industry and Information Technology, the Provincial Department of Finance, the Provincial Department of Agriculture and Rural Affairs, the Provincial Department of Commerce, the Provincial State-owned Assets Supervision and Administration Commission, the Provincial Supervision and Regulation Bureau, the Provincial Financial Supervision and Regulation Bureau, and the Liaoning Financial Holding Group Company Limited, etc., as members. At the same time, select 1-2 experts in the field of finance to participate in the management committee meeting to express professional opinions. Main responsibilities of the Management Committee:
(1) To finalize the development strategy and investment plan of Liaoning Fund;
(2) To finalize the management method of Liaoning Fund;
(3) To consider the annual work report of Liaoning Fund;
(4) To review the annual work report of Liaoning Fund;
(5) To review the annual work report of Liaoning Fund (3) To consider the annual work report of Liaoning Fund;
(4) To recognize the projects of industrial support;
(5) To finalize other important matters.
Article 8 The Management Committee shall set up an office, which is located in the Provincial Department of Finance. The main duties of the office:
(1) To organize the demonstration of the development strategy and investment plan of Liaoning Fund;
(2) To organize and formulate the management method of Liaoning Fund;
(3) To make recommendations on the investment fund; (4) To make recommendations on the investment fund; (5) To make recommendations on other important matters; and (6) To make recommendations on the investment fund. /> (3) To make prior filing of the establishment plan, capital increase plan and substantive adjustment of the plan of the investment fund;
(4) To formulate the implementation rules of the management measures of the Liaoning Fund, and supervise and guide the operation of the Liaoning Fund;
(5) To organize and carry out the evaluation of the performance of the Liaoning Fund, and regularly evaluate the performance of the Liaoning Fund. (e) Organize and carry out performance evaluation of Liaoning Fund, and report the investment operation of Liaoning Fund to the Management Committee on a regular basis;
(f) Complete other matters assigned by the Management Committee.
Article 9 Main Duties of the Relevant Departments of the Provincial Government:
(1) The competent department of the industry based on the responsibilities of the department to promote the establishment of the investment fund, is responsible for docking the work of the national funds in this field, establish and improve the project database, and do a good job in promoting services for enterprises suitable for investment. The provincial development and reform commission is responsible for the credit information management of investment funds based on the credit information registration system of the national government-funded industrial investment funds, and is in charge of the construction of the credit system for the investment fund industry;
(c) The provincial market supervision bureau is responsible for the construction of the credit system for the investment funds;
(d) The provincial market supervision bureau is responsible for the construction of the credit system for the investment funds. The Provincial Market Supervision Bureau is responsible for facilitating the settlement of investment funds and strengthening the business guidance for window units.
Article 10 The Management Committee has set up an Expert Advisory Committee, which employs renowned experts and industry insiders at home and abroad in the fields of key industries, finance, investment, law, accounting, etc., to serve as members, and is convened by the Director of the Office of the Management Committee. The main duties of the Expert Advisory Committee:
(1) to play the role of decision-making support, and to argue, consult, and guide on the management system of the Liaoning Fund, support policies and other major matters to ensure the scientific nature of decision-making;
(2) to play the role of a think-tank (i) To conduct research on key and cutting-edge issues related to the investment of the Liaoning Fund, provide services such as talent training and business consulting, and provide decision-making suggestions to the Management Committee;
(ii) To play the role of an external supervisor, and to supervise the business of the Liaoning Fund's management organization according to the entrustment from the Management Committee and the Office;

(d) To fulfill other matters assigned by the Management Committee and the Office. align: left;"/> (2) Solicit proposals for the establishment of investment funds or capital increase from investment fund management institutions;
(3) Evaluate proposals for the establishment of investment funds, capital increase and substantive adjustments, and organize experts to conduct demonstrations as required, and report to the Office for the record after approval;
(4) To formulate the administrative measures for the selection of custodian banks, select qualified custodian banks, and ensure the safe and efficient use of the funds of the investment fund;
(5) To be responsible for the investment, management, withdrawal and liquidation of the Liaoning Fund and the payment of its proceeds; and to report to the Office on the investment operation of the Liaoning Fund at regular intervals. (e) Responsible for the investment, management, withdrawal and liquidation of the Liaoning Fund, as well as the payment of its income, etc., and regularly report to the Office on the investment and operation of the Liaoning Fund;
(f) Responsible for the evaluation of the performance of the investment fund, and cooperating with the Office to carry out the evaluation of the performance of the Liaoning Fund;
(g) Cooperating with the relevant departments of the provincial government in docking with the national funds, and (vii) Cooperate with relevant departments of the provincial government to dock with national funds and carry out investment cooperation;
(viii) Complete other matters assigned by the Management Committee and the Office.

Chapter III Investment and Operation

Article 12: The main investment and operation modes of Liaoning Fund:

(1) The investment fund shall be set up through cooperation with social capital and other governmental funds. (a) Establishing investment funds mainly through cooperation with social capital and other governmental funds, or increasing the capital of established investment funds;
(b) Direct equity investment or other investment methods approved by the Management Committee.
Article 13 The Liaoning Fund may participate in the establishment of investment funds in the form of limited partnership and other organizational forms permitted by laws and regulations. Each contributor shall, in accordance with the current laws and regulations, sign a partnership agreement and other legal documents (hereinafter referred to as the agreement), specifying the policy objectives of the establishment of the investment fund, the size of the fund, the duration of the fund, the capital contribution program, the investment field, the decision-making mechanism, the fund management organization, risk prevention, investment withdrawal, management fees and income distribution, etc. The agreement shall be signed in accordance with the current laws and regulations.
Article 14 The proportion of Liaoning Fund's contribution to the industrial development investment fund shall not exceed 30% of the total scale of the investment fund in principle, and shall not be the sole and largest contributor, and the proportion of the contribution of all levels of governments in the province shall not be higher than 50% of the total scale of the investment fund in principle. For industrial support investment funds, the proportion of Liaoning Fund's contribution shall not exceed 50% of the total size of the investment fund, and the combined contribution of all levels of governments in the province shall be up to 100% of the total size of the investment fund.
Article 15 The establishment of an investment fund shall fulfill the following conditions:
(1) The investment fund shall, in principle, be actually operated within the administrative area of Liaoning Province;
(2) The investment fund shall have no interest in a single investment fund.
(b) The investment fund's investment in a single enterprise shall not exceed 20% of the total size of the investment fund;
(c) The investment fund's investment in an enterprise in Liaoning Province shall be no less than twice the amount of the Liaoning fund's contribution in principle, and the determination of the amount of the investment shall be carried out in accordance with the relevant regulations of the Implementation Rules;
(d) The investment fund's investment in an enterprise in Liaoning Province shall not exceed 20% of the total size of the investment fund. align: left;"/> (d) The investment amount of the industrial development type investment fund in the agreed major investment areas shall in principle be no less than two times of the contribution amount of the Liaoning Fund, and the industrial support type investment fund shall be fully invested in the agreed specific areas;
(e) The term of the investment fund shall generally not be more than eight years, and may be appropriately extended upon the unanimous agreement of all the contributors. (e) The term of the investment fund shall not exceed 8 years in general, and may be extended appropriately upon the unanimous agreement of all contributors.
Article 16 The investment fund management institution shall have the following conditions:
(1) It is in the leading position in the industry, has strong fund-raising ability, rich experience in investment management, excellent business performance, stable management team, and the cumulative management capital has reached a certain scale;
(2) The investment fund management organization shall have the following conditions (b) Be registered with China Securities Investment Funds Association (CSIFA) in accordance with the regulations, have good professional conduct and reputation, no major faults, no administrative or judicial punishment, and no record of loss of trust information;
(c) Have standardized project selection criteria; (d) Have a good track record in the field of investment management; (e) Have a good track record in the field of investment management; (f) Have a good track record in the field of investment management; (g) Have a good track record in the field of investment management. (C) have a standardized project selection mechanism, a perfect investment decision-making mechanism, an effective internal control system and a sound financial management system, and be able to provide value-added services such as entrepreneurial counseling and management consulting for the invested enterprises;
(D) meet the first three conditions of the fund management organization to set up subsidiaries to carry out investment fund operation in the province. If the fund management organization meets the first three conditions and establishes a subsidiary in the province to operate the investment fund, it shall complete the registration and filing in accordance with the specified time after the approval of the investment fund plan;
(e) other conditions in accordance with the relevant regulations.

Chapter IV - Exit and Income Distribution

Article 17 The investment made by Liaoning Fund in the investment fund shall be withdrawn at the appropriate time in accordance with the agreement when the investment fund expires, or when the expected objectives are achieved during the period of existence.
Article 18 The Liaoning Fund shall withdraw from the investment fund not earlier than the national fund, and not later than the withdrawal of the governmental guidance fund below the provincial level and other social investors.
Article 19 In any of the following cases, Liaoning Fund may withdraw directly without the consent of other contributors:
(1) The establishment of the investment fund has not been completed in accordance with the prescribed procedures and time more than one year after the approval of the investment fund program;
(2) The establishment of the investment fund has not been completed in accordance with the prescribed procedures and time more than one year after the approval of the investment fund program.
(b) Liaoning Fund's capital contribution to the investment fund account for more than 1 year, the investment fund does not carry out investment business;
(c) the investment fund is not invested as agreed;
(d) other investment funds are not invested according to the agreement;
(e) the investment fund is not invested according to the agreement. "/> (D) Other cases of non-compliance with the agreement.
Article 20 The exit of Liaoning Fund shall be in accordance with the agreed conditions; if there is no agreement in the agreement, a qualified asset appraisal organization shall be hired to appraise the capital contribution interests as the basis for determining the exit price of the fund.
Article 21 The management organization of Liaoning Fund and other contributors shall clearly agree on the ways of dealing with gains and sharing losses in accordance with the principle of "same shares, same rights, benefit sharing and risk sharing". The Liaoning fund shall not promise the other contributors that the principal of the investment will not be lost, and shall not promise a minimum return. Contributors other than the government shall be qualified institutional investors with certain risk identification and bearing capacity.
Article 22 The Liaoning Fund shall utilize the value-added income to which it is entitled to give appropriate incentives to other social investors, and the specific incentives shall be implemented in accordance with the Implementing Rules.
Article 23 The income of Liaoning Fund mainly consists of interest income, investment dividends and value-added from the transfer of equity, which shall be managed and accounted for in accordance with the relevant regulations.
Article 24 The management and service fees of the investment fund shall be determined by mutual agreement among the contributors and clearly agreed in the agreement.

Chapter V Risk Control and Supervision and Administration

Article 25 The investment fund shall entrust the custodian bank to carry out the fund custodianship, and the custodian bank shall be selected by the investment fund management organization in accordance with the management specifications formulated by the Liaoning fund management organization. The investment fund management institution and the custodian bank shall entrust the custodian bank with the funds. The investment fund management institution and the custodian bank shall sign a custodian agreement and report it to the Liaoning fund management institution for record.
Article 26 The custodian bank shall be responsible for the account management of the investment fund, fund clearing, custody of fund assets and other matters according to the custodian agreement, and shall exercise dynamic supervision over the investment activities. The custodian bank shall not carry out the payment matters of the investment fund management organization which violates the national laws and regulations, the agreement or the resolution of the general meeting of partners (board of directors of the fund).
Article 27 The Liaoning Fund and the Investment Fund shall not engage in the following businesses:
(1) engaging in the business of guarantee, mortgage, entrusted loan and other businesses other than financial guarantee;
(2) engaging in the business of guarantee, mortgage, entrusted loan and other businesses other than financial guarantee left;"/> (b) Investing in secondary market stocks, futures, real estate, securities sub-funds, corporate bonds rated below AAA, trust products, non-principal-protected wealth management products, insurance plans and other financial derivatives;
(c) Providing sponsorships and donations to any third party (except for approved public welfare donations)
(d) Absorbing or disguisedly absorbing deposits, providing loans to third parties and lending funds;
(e) Making foreign investments with unlimited joint and several liabilities;
(vii) Other businesses prohibited by national laws and regulations.
Article 28 The Liaoning fund management organization shall establish and improve the system of investment decision-making, risk control, financial management, performance evaluation and other systems, strengthen the supervision and management of the investment fund, and closely follow up its operation and financial status. When the investment fund violates the law and deviates from the policy objectives, Liaoning Fund may terminate the cooperation with the investment fund management institution.
Article 29 The Liaoning Fund shall establish a regular reporting system.
The custodian bank shall, in accordance with the custodian agreement, regularly submit the fund custodian report to the investment fund management organization.
The Custodian Bank shall, in accordance with the Implementing Rules, submit periodic reports on the trusteeship of the investment funds to the Liaoning Fund Management Organization.
The investment fund management organization shall submit reports on the operation of the investment fund to the Liaoning fund management organization on a regular basis in accordance with the implementation rules.
The Liaoning Fund Administrator submits regular reports on the operation of the Liaoning Fund to the Office.
Article 30 The Liaoning Fund management organization shall conduct annual self-assessment of the performance of the Liaoning Fund in terms of the degree of achievement of the policy objectives of the Liaoning Fund and the investment operation.
The Office may commission a third-party professional organization to carry out performance evaluation of the Liaoning Fund management organization, and the performance evaluation will include efficiency indicators, financial indicators, and business indicators, etc.
The Office may commission a third-party professional organization to carry out performance evaluation of the Liaoning Fund management organization.
Article 31 The Liaoning fund management organization shall establish an archive management system and independently archive the relevant information of each investment fund.
Article 32 The investment fund management organization shall accept the supervision and audit of the financial department and audit department on the operation of the investment fund. Any violations of laws and regulations and relevant provisions in the management of the investment fund shall be handled in accordance with the laws and regulations and relevant provisions, and any suspected crime shall be referred to the judicial organs.

Chapter VI Supplementary Provisions

Article 33 The participation of Liaoning Fund in the capitalization of national funds, or the participation of national funds in the capitalization of the establishment of investment funds in the province with Liaoning Fund shall be in accordance with the relevant provisions of the national funds. If Liaoning Fund participates in the establishment or capital increase of investment funds registered outside the province, it shall be executed in accordance with the decision of the Management Committee.
Article 34 These Measures shall be revised and announced by the Provincial Department of Finance in a timely manner in accordance with the needs of the work and shall be responsible for the interpretation. Matters not covered herein shall be carried out in accordance with the relevant national and provincial regulations.
Article 35 These Measures shall come into force on the date of issuance. The Notice of the General Office of the People's Government of Liaoning Province on the Issuance of Liaoning Province Industrial (Entrepreneurial) Investment Guidance Fund Management Measures (Liao Zhengban Fa [2021] No. 21) shall be repealed at the same time.