id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-10937	Cheng, Pangyue	Institutional Investors in China: Problems and Prospects	2023	68	.pdf	application/pdf	20998	986	48	The second lesson is that, in investigating whether minority institutional investors are passive or active in concentrated ownership jurisdictions, it is necessary to analyze SOEs, but insufficient; POEs and strategic investor enterprises should also be examined. Further, the China State Development and Investment Group Company has launched a large number of investment funds to meet national strategic goals.161 It established an investment fund, the “Advanced Manufacturing Industry Investment,” in partnership with other SIIs, such as the Industrial and Commercial Bank of China, in order to invest in a large number of POEs in the advanced manufacturing sector.162 2. SOE Funds: Active Participation to Protect State Assets SOEs are authorized by the State Council to set up funds to invest in POEs and become minority institutional investors in them.163 In order to align the investments of these SOE funds with national interests, the SASAC has set up a Fund Coordination Leading Group to guide and coordinate these institutional investors through regular meetings.164 However, the Fund Coordination Leading Group does not interfere with the specific investment decisions and engagement actions of those minority SIIs, which generally rest on market-based considerations that do not require approval from the state.165 161 “Jijin Guojiadui” Jinhuashi (“基金国家队”进化史)	cache/cblr-10937.pdf	txt/cblr-10937.txt