The General Office of the State Council recently issued the “Guiding Opinions on Promoting High-Quality Development of Government Investment Funds”. Improve risk prevention and control systems. Government investment funds should strengthen internal control and management, and protect the rights and interests of investors in accordance with law. Fund managers shall establish and improve related transaction management systems, improve integrity risk prevention and control systems, shall not use fund assets to transfer improper transactions or interests with related parties, and shall not engage in business prohibited by laws, regulations or industry regulations. Strengthen risk prevention in government investment funds. Local governments are strictly prohibited from investing through illegal borrowing and financing, must not add hidden local government debt, and must not require state-owned enterprises or financial institutions to make capital contributions or advance funds.

The General Office of the State Council recently issued the “Guiding Opinions on Promoting High-Quality Development of Government Investment Funds”. Improve risk prevention and control systems. Government investment funds should strengthen internal control and management, and protect the rights and interests of investors in accordance with law. Fund managers shall establish and improve related transaction management systems, improve integrity risk prevention and control systems, shall not use fund assets to transfer improper transactions or interests with related parties, and shall not engage in business prohibited by laws, regulations or industry regulations. Strengthen risk prevention in government investment funds. Local governments are strictly prohibited from investing through illegal borrowing and financing, must not add hidden local government debt, and must not require state-owned enterprises or financial institutions to make capital contributions or advance funds.