The reporter recently learned from the National Council of Social Security Fund that in order to further strengthen and improve the industrial investment work of the Social Security Fund, the Social Security Fund recently issued the “National Council for Social Security Fund Industrial Investment Guidelines”.
People in the industry generally believe that the introduction of the “Guidelines for Industrial Investment” will help enhance the standardized and professional market image of the Social Security Fund, and better fulfill the main responsibility of ensuring the safety of the fund and maintaining and increasing its value; Advantages and roles, actively grasp the new opportunities of China’s economic transformation and upgrading, and enhance the new kinetic energy of industrial investment to serve the national strategy; it will help all sectors of the society to further understand the concept, strategy and standards of the social security foundation’s industrial investment, thereby broadening the scope of cooperation and deepening pragmatism. Cooperation.
The “Guidelines for Industrial Investment” is divided into four parts, including general requirements, basic principles, key tasks and safeguard measures, with a total of 20 articles. It clarifies the medium and long-term development plan of the social security foundation’s industrial investment, and further improves the industrial investment management and operation system.
According to reports, since 2004, the Social Security Fund has carried out industrial investment and achieved good results, especially in the past ten years, it has achieved leapfrog development. As of the end of June 2022, the cumulative investment scale will be nearly 300 billion yuan, and the investment income will exceed 240 billion yuan. Among them, the cumulative investment of direct equity exceeds 200 billion yuan, the investment income exceeds 180 billion yuan, and the annualized investment rate of return is about 12%; the cumulative investment of equity funds exceeds 80 billion yuan, the investment income exceeds 50 billion yuan, and the annualized investment rate of return is about 14%. %.
The person in charge of the relevant department of the Social Security Foundation said, “In direct equity investment, we prefer investment projects that are in line with the national strategy and are related to the national economy and people’s livelihood. Investment layout in key areas such as facilities and food security. In equity fund investment, we insist on cooperating with market-leading fund managers, mainly investing in advanced manufacturing, new energy, new generation information technology, energy conservation and environmental protection, biotechnology, etc. Strategic emerging industries accounted for more than 56%; investment in the fields of people’s livelihood and infrastructure accounted for more than 15% and 12% respectively. From a penetrating perspective, equity fund investment leveraged more than 1.6 trillion yuan of social capital, or nearly 6,000 It has provided capital support to several companies, covering more than 6.6 million employees, won 40 national awards, and invested in promoting the listing of more than 370 companies, exceeding 8% of the number of A-share newly listed companies, and achieving good social benefits.”
Industrial investment has great potential in accelerating the formation of innovative capital, supporting the transformation of scientific and technological achievements, cultivating scientific and technological innovation enterprises, and promoting the upgrading of industrial structure, and has huge potential for future development. The person in charge of the relevant departments of the Social Security Foundation said that they will accurately identify changes, respond scientifically, actively seek changes, and seek new chapters and layouts with a comprehensive and long-term perspective.
Specifically, the person in charge introduced that the Social Security Foundation will focus on the national “14th Five-Year Plan” and the outline of the long-term goals for 2035, continue to optimize the strategy and direction of industrial investment, and continuously improve the quality and efficiency of industrial investment in serving the national strategy; Explore the establishment of a sustainable investment management system that not only has the characteristics of social security foundations, but also is in line with international standards; it will continue to increase industrial investment and increase the proportion of industrial investment in fund assets.
In addition, the person in charge also said that the Social Security Foundation will further improve the industrial investment management mechanism and model by focusing on optimizing the direct equity investment structure, selecting equity fund partners, and innovating cooperation models.
First, optimize the structure of direct equity investment. Increase long-term equity investment in strategic and basic fields, actively explore investment opportunities for new infrastructure projects, deepen cooperation with central and local state-owned enterprises, and actively participate in the restructuring, mergers and acquisitions of central and local state-owned enterprises through various investment methods , Non-public offering.
The second is to select equity fund partners. In accordance with the principle of “performance priority and comprehensive consideration”, management standards such as questionnaire surveys, preliminary evaluations, and executive interviews for equity fund managers have been established. Include national funds, market-oriented high-performance teams, industry leaders, and high-quality enterprises into the scope of cooperation. When carrying out investment cooperation, pay more attention to performance orientation, especially investment institutions with long-term outstanding performance, legal and compliant operations, and good market reputation.
The third is to innovate cooperation models. Give full play to the unique role of equity funds in supporting scientific and technological innovation and the high-quality development of the real economy, and use the professional capabilities, platform advantages and resources of fund managers to explore co-investment funds and independent account investment, and deepen cooperation with outstanding managers.
[Editor in charge: Xu Dan]