Shanghai SASAC Issues Guiding Opinions on Promoting High-Quality Development of Private Equity Investment Funds Managed by Supervised Enterprises

It points out that the performance evaluation system should be optimized. Supervised enterprises should implement a combination of annual and long-term performance evaluations for the managers of state-owned funds and controlled funds, focusing on the overall performance of the investment portfolio and not simply using the profit or loss of individual projects or a single year as the basis for evaluation. Differentiated financial and non-financial indicators should be set according to the fund type and its operational stage.