Research On The Management Of Guiding Funds For The Transformation Of New And Old Kinetic Energy In Shandong Province

In recent years,under the background of increasing domestic macroeconomic downward pressure and continuous deepening of supply-side structural improvement,replacing old growth drivers with new ones has become one of the key variables in China’s economic growth.Governments at all levels adjust policy measures,innovate fiscal investment methods,and develop government guide funds.Governments try to manage of the macro-control by using "tangible hand",it will give play to the leverage of financial funds and leverage more financial and social capital to invest in key industries or weak link of economies.After years of exploration and practice,government guide funds have gradually become an important financial tool for promoting economic restructuring,upgrading traditional industries,and replacing old growth drivers with new ones.In recent years,Shandong prefecture-level government guide funds have made some exploration attempts.Provincial government guide funds start late,but they all have strong development potential.Especially in 2018,after the State Council of the PRC approved the"Overall Plan for the Construction of a Comprehensive Pilot Zone for the Conversion of replacing old growth drivers with new ones in Shandong Province",the Shandong Provincial Government established a replacing old growth drivers with new ones guide fund to support the province’s economic and social development,industrial transformation and upgrading,and ease corporate financing difficulties.It has played an important and active role in the management of funds.However,it has encountered problems such as difficulty in fundraising and slow investment progress in guide fund management.Behind this,there are not only the increasing downward pressure on the domestic economic environment,but also the constraints of objective factors such as the continuous tightening of financial and fiscal regulatory policies,as well as the insufficient understanding of the role of the government guidance fund by various departments at all levels,the management level is not high enough,and the assessment and evaluation system is not good enough.Perfection and other subjective factors.Studying these problems and their causes in the context of the replacing old growth drivers with new ones has reference significance for economic and social development,as well as the operation of government guidance funds in Shandong Province and even the whole country.This paper focuses on the field of public management and replacing old growth drivers with new ones guide funds in Shandong.It also discusses how the government guide funds manage to improve the utilization rate of finances,can further improve marketization and specialization in response to the development and changes of the situation by optimizing and improving the fund operation mode,will standardize the level of operation,so as to better support economic and social development and industrial transformation and upgrading,and effectively exert policy and social effects.This paper summarizes the theoretical research on the management of government guide funds in China and oversea countries by studying relevant case experiences and consulting literature materials,and analyzes the operation of government guide funds based on the work experience in the management department of government guide funds in Shandong Province.The Shandong Provincial government guide fund currently has many problems in terms of fundraising,management,investment,and withdrawal.It should follow Shandong’s geopolitics advantages,development orientation and financial conditions,focus on the strategy of replacing old growth drivers with new ones,and adopt multiple measures to attract the society.The improvement can be taken in terms of capital participation,increasing the introduction of professional talents,scientific assessment and evaluation,innovative withdrawal methods and etc.which give full play to the role of the fund and serve the implementation of major projects in the province for the transformation of new and old kinetic energy.