[Return investment returns to zero, loss tolerance is fully extended, government investment funds in Sichuan, Shandong and other places are setting off another wave of “untying”] On September 4th, Sichuan, Shandong and other places intensively introduced new policies for government investment funds, setting off another wave of untying for “patient capital”. Sichuan has introduced 20 measures to clarify that venture capital funds will cancel the return investment ratio and registration location restrictions, establish a classified loss tolerance mechanism, allow a single project to suffer up to 100% loss, and extend the duration to no more than 20 years, which has become a provincial government investment fund programmatic document; Shandong has also introduced 16 measures to clarify that diligent and conscientious investors who fail to achieve expected returns can be exempted from liability, and the assessment cannot simply be based on a single project or a single year's profit and loss. After sorting out, it was found that measures such as quantifying loss tolerance, loosening assessments, adjusting the proportion of reinvestment, and lengthening the duration are being implemented intensively in various places, reflecting that the reform logic of government investment funds returning to "patient capital" is accelerating. (Mijing.com)