At the 11th Central Enterprise Investment and Development Conference held a few days ago, Weng Jieming, member of the Standing Committee of the National People's Congress and vice-chairman of the Finance and Economic Committee, said in his keynote speech that central enterprises will become the main force in the future industry, but the current institutional mechanisms of state-owned enterprises are difficult to adapt to the high-risk and long-term development characteristics of future industries. Weng Jieming pointed out that the future industry is strategic, disruptive, and highly uncertain. It is proposed to separate future industries including high-level emerging industries, establish a “special zone” for investment with scientific cycles, diversified equity, and fault tolerance to support state-owned state-owned enterprises to participate in future industrial development. Specifically, it is recommended that state-owned assets supervision introduce special rules. In the future, the income assessment cycle for industrial investment funds should not be less than 10-15 years, and no less than 5-7 years for emerging industries; the success or failure of individual projects will not be assessed during the fund's lifetime, and investment results will be evaluated based on the comprehensive return rate of all projects throughout the fund cycle.

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