It is pointed out in the report of the 20th CPC National Congress that it is necessary to build a high-level socialist market economic system, give full play to the decisive role of market in the allocation of resources, and give better play to the role of government to promote state-owned capital and stateowned enterprises to become stronger, better and bigger. Government investment funds play a key role in supporting innovation and entrepreneurship, the development of small and medium-sized enterprises, industrial transformation, upgrading and development, infrastructure and public services. This paper analyzes the development of government investment funds in China from three aspects: connotation and objectives, operation and management, supervision and performance evaluation. In combination with the plight in fund-raising, investment and management with investment and management practice, the paper puts forward some suggestions for the development of diversified sources of social capital, marketization of operation management, flexibility of system and mechanism and differentiation of supervision management on this basis.
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