On August 21, the launch event for Sichuan Province's Government Industrial Investment Guidance Fund was held in Chengdu. Shi Xiaolin, Deputy Secretary of the CPC Sichuan Provincial Committee and Governor of the People's Government of Sichuan Province, attended the event and unveiled the plaque for Sichuan Industrial Investment Guidance Fund Co., Ltd.

The third plenary session of the 20th CPC Central Committee made a major reform arrangement to "better leverage the role of government investment funds and work to promote the development of patient capital". To fully capitalize on the market and to guide state-owned capital fund of funds (FOF) and market-oriented funds towards investing in projects at the early stages, in small enterprises, over long time horizons, and in advanced and core technologies, the provincial Party committee and the provincial government have undertaken a comprehensive optimization and upgrade of the province's industrial guidance fund system. The restructured industrial guidance fund operates under a three-tier architecture of "FOF - Composite Fund - Sub Fund". Led by the industrial guidance fund, it forms a V-formation pattern comprising "government guidance funds + state-owned capital (state-owned enterprise) funds + market-oriented funds", thus establishing a full-lifecycle fund investment system and a 100-billion-level parent- and sub-funds cluster. Sichuan Industrial Investment Guidance Fund Co., Ltd. acts as the FOF company, with an initial fund size of 20 billion yuan. Next, the focus will be placed on enhancing the quality and doubling the revenue scale of the province's six major advantageous industries, fostering the growth of strategic emerging industries, and accelerating the incubation of future industries. Initiatives will be rolled out to improve institutional mechanisms, such as horserace-based capital allocation, yield transfer, and error tolerance and correction, with the aim of fully unleashing vitality and allowing more high-quality seed projects, technology innovation enterprises, and future industries to flourish and grow into towering trees, thereby helping to build a modern industrial system rich in Sichuan's characteristics and advantages.

At the launch event, Dong Weimin, Member of the Standing Committee of the CPC Sichuan Provincial Committee and Executive Vice Governor of the People's Government of Sichuan Province, and Wang Zhongmin, Chairman of the Fund of Funds Professional Committee of the Asset Management Association of China, delivered speeches. Leading officials from the Sichuan Provincial Department of Finance and the Sichuan Industrial Revitalization Fund Investment Group introduced the establishment of the fund and its operations, respectively. Persons in charge from China Capital Investment Group and Industrial and ICBC Capital Management, respectively, presented fund promotions and investment initiatives. Sichuan Industrial Investment Guidance Fund Co., Ltd. inked agreements with the initial batch of selected management institutions for the composite funds, as well as with top-tier institutions.

Attendees at the event included Yu Peigen, Chairman of Dongfang Electric Corporation, heads from relevant provincial departments, cities (prefectures), and some state-owned enterprises, representatives from fund management institutions, financial entities, and social funding sources, as well as company delegates from certain strategic emerging and future industries, among others.