CAJ | 학술논문

产业投资基金试点运作对于推进滨海新区开发开放具有重要意义。在借鉴国外私募股权基金运作模式和国内类似性质投资基金发展经验的基础上，根据我国的基本国情和滨海新区开发开放的实际需要，滨海新区试点运作的我国首支中资产业投资基金——渤海产业投资基金应采用私募和公募相结合的募资方式，通过改善基金管理公司董事会结构和强化基金托管人的监督职能等途径来优化法人治理，重视基金持有人与管理公司、管理公司与被投资企业两个层面的利益协调，从而促进我国产业投资基金的健康发展。
산업투자기금시점운작대우추진빈해신구개발개방구유중요의의。재차감국외사모고권기금운작모식화국내유사성질투자기금발전경험적기출상，근거아국적기본국정화빈해신구개발개방적실제수요，빈해신구시점운작적아국수지중자산업투자기금——발해산업투자기금응채용사모화공모상결합적모자방식，통과개선기금관리공사동사회결구화강화기금탁관인적감독직능등도경래우화법인치리，중시기금지유인여관리공사、관리공사여피투자기업량개층면적이익협조，종이촉진아국산업투자기금적건강발전。
The experimental operation of industrial investment fund plays an important role in promoting the development and openning-up of Binhai New Area. Based on analysis of the operation model of overseas private equity fund and the development experience of domestic similar investment funds, and according to the actual situation of China and the practical need of promoting the development and opening up of Binhai New Area, Bohai Industrial Investment Fund the first industrial investment fund initiating experimental operation in Binhai New Area, which is held by domestic capital, should explore the integrative style of raising private and public fund, optimize the corporate govemance by improving the board structure of fund management corporation, and consolidating the supervising function of fund trustee, and pay great attention to the interest coordination between fund holders and fund management corporation, as well as between fund management corporation and the invested enterprises, in an attempt to promote the healthy development of industrial investment fund in China.