由于存在市场失灵,以政府引导基金为代表的政策性股权基金为发展我国股权投资市场起到了积极的作用。但受制于公共属性,政策性股权基金运作模式严重缺乏市场机制。本文分析了目前政策性股权基金面临的问题,并提出发展我国政策性股权基金的合理化建议。 Due to the existence of market failure, the government-led fund represented the policy of equity funds for the development of China’s equity investment market has played a positive role. However, subject to the public nature, the mode of operation of the policy-oriented equity funds lacks a market mechanism seriously. This article analyzes the problems facing the current policy-oriented equity funds and puts forward some reasonable proposals for developing China’s policy-oriented equity funds.