China issues government investment fund evaluation rules

China's top economic planner on Monday released a trial regulation aimed at improving the evaluation and management of government investment fund allocations.

The move is intended to better leverage these funds to serve national strategies, promote industrial upgrading, and foster innovation and entrepreneurship.

Issued by the National Development and Reform Commission (NDRC), the regulation highlights the role of allocation evaluations in guiding government investment funds to align with national industrial policies and support the building of a modern industrial system.

It also calls for stronger coordination between national-level funds and local government funds to support major national strategies, key sectors and weak areas where market forces fall short.

The regulation sets out evaluation criteria focusing on funds' performance in supporting national strategies such as new quality productive forces, technological innovation and commercialization of research outcomes, patient capital, and public well-being.

Additional indicators assess alignment with the country's regional strategies, priority investment areas and efficient capacity utilization, as well as policy implementation.

The NDRC said final evaluation results will be communicated to provincial-level governments, relevant departments, evaluated entities and relevant financial institutions. The results will be released through a registration system.