Study On The Development Strategy Of The Government-guided Fund

China is currently at an important stage of developing innovative industries, economic restructuring, industrial structure adjustment.Government guidance funds to support local economic development, an important means to solve the financing problem of SMEs, but also foster emerging industries of strategic areas of government enterprises ’ independent innovation ability of important ways. Guidance on regulating the establishment and operation of venture capital fund(hereinafter referred to as the guidelines) published. Provinces, autonomous regions and municipalities Fund established to speed up the development of the local government, while the domestic stock market activity has accelerated this process. Active, especially Beijing, Shanghai and Shenzhen, capital venture capital industry started early in first-tier cities, its strong momentum in the development of the Government guiding funds, on the other is rapid economic development, the urgent need to break finance bottleneck in second-tier cities has played a good role model to guide. Capital Fund has become the new Government-supported development of new platform for small businesses. 2015 on the third session of the 12 th National People’s Congress, the Government work report Premier Li Keqiang specifically proposes to establish guidance Fund encourages and guides the investment industry, integration to raise more funds to promote industrial innovation fueling.However, government guidance funds for economic development and structural adjustment of a new strategic tool, after all, is not yet mature. Is in the process of development, there are a lot of problems, such as Fund of single source of funds, small scale, Government’s original intention of setting up a Fund and the Fund Manager’s interests do not coincide, too much government interference causing the boot operation marketization level is not high, the system is not perfect, and have seriously hampered China’s guided the Fund’s operation. On the transformation and upgrading of the economic structure in our country as an important means of Government guiding funds, systematic, scientific study to find out problems existing in the development of, and to explore how to improve and perfect, promoting healthy and rapid development of guidance Fund, thereby prompting it to give full play to the guiding role of government guidance funds, is of great strategic significance.This article is divided into four parts of the government strategy to guide the development fund were discussed. The first part introduces the theory of government guidance funds, clarify its definition, characteristics, mode of operation and the role of lay the theoretical foundation for the later start on; the second part in-depth analysis of the development status of government guidance funds, introduction of government-led fund established characteristic raising, investment conditions, management and other aspects of the exit mechanism, the analysis found that the problems in the operation of the process; the third study compared guide domestic and foreign fund development model and operating conditions, summarized the case of foreign experience, combined with China’s specific national conditions, tries to put forward a selection of government guidance funds experience in the development model and operating management; fourth part of the second part of the question raised and the third part of lessons learned, try to put forward to promote the development of government guidance funds Some suggestions that the next step for the government on the one hand to strengthen the management of government guidance funds, fund investment management policies, provide theoretical support for development of practical government guidance funds, etc., on the other hand can guide the fund to promote the healthy and rapid development, give full play to capital amplification effect, provide guidance and support for the venture capital market, such as providing some valuable advice.