Chinese Official Proposes 10-15 Year Assessment Cycle for State Future Industry Funds
At the 11th (Autumn) Central Enterprise Investment Development Conference on September 23, Weng Jieming, a member of the Standing Committee of the National People's Congress, proposed that central state-owned enterprises become the main force in future industries. He recommended state-owned asset regulators issue special rules, including a performance assessment cycle of no less than 10-15 years for future industry investment funds and 5-7 years for emerging industries, with no individual project assessment during the fund's duration.
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Chinese Official Suggests Special Rules for State Firms Investing in Future Industries
On September 23, at the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise systems and mechanisms are ill-suited to the high-risk, long-cycle characteristics of these industries. Weng described future industries as strategic, disruptive, and highly uncertain. He proposed establishing a separate category for future industries, including high-level emerging industries, and creating a special investment 'zone' with scientific cycles, diversified equity, and tolerance for trial-and-error. Specifically, he recommended that state-owned asset regulators issue special rules, setting the performance assessment cycle for future industry investment funds at no less than 10-15 years, and for emerging industries at no less than 5-7 years. During the fund's existence, the success of individual projects should not be assessed; instead, the investment performance should be evaluated based on the comprehensive return rate of all projects over the fund's full lifecycle.
Read sourceChinese Official Suggests Special Rules for State Firms Investing in Future Industries
Weng Jieming, a member of the Standing Committee of the National People's Congress and deputy director of the Financial and Economic Affairs Committee, proposed that China's central state-owned enterprises should become the main force in future industries. Speaking at the 11th (Autumn) Central Enterprise Investment Development Conference on September 23, he argued that current state-owned enterprise systems are ill-suited to the high-risk, long-cycle nature of future industries. Weng recommended that future industries and high-level emerging industries be listed separately, creating a special investment 'zone' with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he suggested that state-owned asset regulators issue special rules: the performance assessment cycle for future industry investment funds should be no less than 10-15 years, and for emerging industries no less than 5-7 years. During the fund's existence, individual project success or failure should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
Read sourceWeng Jieming Suggests State Asset Regulator Issue Special Rules for Future Industry Fund Assessment Cycles
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise systems and mechanisms are ill-suited to the high-risk, long-cycle characteristics of future industries. Weng proposed that future industries, including high-level emerging industries, be listed separately to establish an investment 'special zone' with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he recommended that state-owned asset regulators issue special rules requiring the performance assessment cycle for future industry investment funds to be no less than 10-15 years, and for emerging industries no less than 5-7 years. He also suggested that during the fund's duration, the success or failure of individual projects should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
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Chinese Official Suggests 10-15 Year Evaluation Cycle for Future Industry Investment Funds
At the 11th (Autumn) Central Enterprise Investment Development Conference held on September 23, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise mechanisms are ill-suited to the high-risk, long-cycle characteristics of these industries. Weng recommended that future industries, including high-level emerging sectors, be listed separately and that special investment 'zones' be established with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he proposed that state-owned asset regulators issue special rules requiring the performance evaluation cycle for future industry investment funds to be no less than 10-15 years, and for emerging industries no less than 5-7 years. He also suggested that during the fund's existence, individual project success or failure should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
Read sourceChina Official Urges 10-15 Year Evaluation Cycle for Future Industry Investment Funds
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise systems are not well-suited to the high-risk, long-cycle characteristics of these industries. Weng recommended that future industries, including high-level emerging sectors, be listed separately and that special investment 'zones' be established with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he suggested that state-owned asset regulators issue special rules requiring the performance evaluation cycle for future industry investment funds to be no less than 10-15 years, and for emerging industries no less than 5-7 years. He also proposed that during the fund's existence, the success or failure of individual projects should not be assessed; instead, the comprehensive return rate of all projects over the fund's full lifecycle should be used to evaluate investment performance.
Chinese Official Suggests Special Rules for State Firms to Invest in Future Industries
On September 23, at the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that the current institutional mechanisms of state-owned enterprises are ill-suited to the high-risk, long-cycle characteristics of these industries. Weng proposed that future industries, including high-level emerging sectors, be listed separately and that a special investment 'zone' be established with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he suggested that state-owned asset regulators issue special rules, with performance evaluation cycles for future industry investment funds set at no less than 10-15 years, and for emerging industries at no less than 5-7 years. During the fund's duration, the success or failure of individual projects should not be assessed; instead, the comprehensive return rate of all projects over the fund's full lifecycle should be used to evaluate investment performance.
Read sourceChina Official Suggests Special Rules for State Firms in Future Industries
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and deputy director of the Financial and Economic Affairs Committee, stated that central enterprises should become the main force in future industries. However, he noted that current state-owned enterprise systems and mechanisms are ill-suited to the high-risk, long-cycle characteristics of these industries. Weng proposed that future industries, including high-level emerging sectors, be listed separately and that a special investment 'zone' be established with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he recommended that state-owned asset regulators issue special rules: the performance assessment cycle for future industry investment funds should be no less than 10-15 years, and for emerging industries no less than 5-7 years. During the fund's duration, individual project success or failure should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
Read sourceChinese Official Suggests Special Rules for State Firms to Invest in Future Industries
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central enterprises should become the main force in future industries. However, he noted that current state-owned enterprise (SOE) systems and mechanisms are ill-suited to the high-risk, long-cycle characteristics of these industries. Weng proposed that future industries, including high-level emerging sectors, be listed separately to create a special investment 'zone' with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he recommended that the state-owned assets regulator issue special rules: the performance assessment cycle for future industry investment funds should be no less than 10-15 years, and for emerging industries no less than 5-7 years. During the fund's duration, the success or failure of individual projects should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
Read sourceChinese Official Urges Special Rules for State Firms Investing in Future Industries
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and deputy director of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise systems and mechanisms are ill-suited to the high-risk, long-cycle nature of these industries. Weng proposed that future industries, including high-level emerging sectors, be listed separately and that a special investment 'zone' be established with scientific cycles, diversified equity, and tolerance for trial-and-error. Specifically, he recommended that the state-owned assets regulator issue special rules: the performance assessment cycle for future industry investment funds should be no less than 10-15 years, and for emerging industries no less than 5-7 years. During the fund's duration, individual project success or failure should not be assessed; instead, the comprehensive return rate of all projects over the fund's full cycle should be used to evaluate investment performance.
Read sourceChinese Official Suggests 10-15 Year Assessment Cycle for Future Industry Investment Funds
At the 11th (Autumn) Central Enterprise Investment Development Conference, Weng Jieming, a member of the Standing Committee of the National People's Congress and Vice Chairman of the Financial and Economic Affairs Committee, stated that central state-owned enterprises should become the main force in future industries. However, he noted that current state-owned enterprise mechanisms are ill-suited to the high-risk, long-cycle nature of these industries. Weng recommended that future industries, including high-level emerging sectors, be listed separately and that special investment 'zones' be established with scientific cycles, diversified equity, and tolerance for trial and error. Specifically, he suggested that state-owned asset regulators issue special rules requiring the performance assessment cycle for future industry investment funds to be no less than 10-15 years, and for emerging industries no less than 5-7 years. He also proposed that during the fund's existence, the success or failure of individual projects should not be assessed, but rather the comprehensive results of all projects over the fund's full lifecycle.
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