Research on the Impact of Government-guided Funds on Industrial Upgrading: A Case Study of Hefei Industrial Investment Group

Zhang Lixue

 Anhui University of Finance and Economics

Abstract：

Hefei Industrial Investment Group Co., Ltd., hereinafter referred to as Hefei Industrial Investment Group, is one of the three major state-owned asset groups under the jurisdiction of Hefei City, with the objective of committing to industrial transformation and upgrading as well as innovation-driven development. This paper takes Hefei Industrial Investment Group as a case study, focusing on analyzing the paths through which it promotes industrial upgrading. Additionally, against the backdrop of government-guided funds, it explores the unique equity investment model of Hefei Industrial Investment Group during the process of transitioning from land-based finance to equity-based finance.

Key Words：

government-guided funds; industrial upgrading; Hefei Industrial Investment Group