Core Viewpoint - The forum emphasized the role of mother funds in promoting high-quality development through industrial integration and collaboration, focusing on the transformation of investment strategies towards "industry and hard technology" [2][9]. Group 1: Role of Mother Funds - Mother funds are encouraged to act as "ecological builders" to enhance the industrial chain by filling gaps, strengthening links, and extending chains [3]. - The Beijing Science and Technology Fund, as a government investment mother fund, has actively participated in the city's industrial development and created a platform for resource connection and information exchange [5]. - Daxing Investment's approach includes proactive investment in industrial chains, resource integration, and nurturing dynamic growth, with a focus on sectors like biomedicine and future energy [6]. Group 2: Investment Strategy and Optimization - The investment logic has shifted towards "industry and hard technology," prompting institutions to optimize their investment strategies and evaluation standards [9]. - Guoyuan Equity focuses on three certainty-driven strategies: investing in domestic alternatives, promoting mergers and acquisitions, and collaborating with top universities for technology transfer [10]. - Shenzhen Angel Fund aims to enhance the efficiency of technology transfer and has established a system to support collaborative innovation between invested companies and leading enterprises [10]. Group 3: Challenges and Recommendations - The equity investment industry faces five core contradictions, including mismatched investment cycles and risk tolerance, which need to be addressed for high-quality development [11]. - Focusing on a streamlined approach for government-guided funds can help simplify multiple assessments and enhance investment effectiveness [11]. - The unique strategy of Futen Capital involves collaborating with industry partners and investing in early-stage hard technology projects, creating a comprehensive investment ecosystem [12].

Core Viewpoint - The forum emphasized the importance of integrating AI into traditional industries, particularly in investment decision-making processes, to drive transformation and create new value growth paths [2][4][8]. Group 1: AI Integration in Business - The CEO of Zero One Everything, Li Kaifu, highlighted that AI 2.0 technology has matured and is now a core productivity driver in businesses, suggesting that traditional industries with a solid digital foundation should accelerate the integration of AI agents into their core operations [2][4]. - Li Kaifu defined "intelligent agents" as systems that can autonomously understand human language commands, break down tasks, and utilize various tools to deliver results, which can significantly enhance investment decision-making processes [6][4]. Group 2: Transformation of Investment Decision-Making - The presentation outlined that AI agents can analyze historical data and provide critical decision support for investment institutions, enabling a more systematic approach to evaluating sub-funds and project selection [6][4]. - Li Kaifu proposed the establishment of a "decision log" mechanism to document core investment hypotheses and the decision-making process, which AI can analyze to improve the rigor and learning capabilities of decision teams [7][4]. Group 3: Future Outlook - Li Kaifu predicted that 2026 would mark the year of large-scale deployment of multiple intelligent agents, transforming the value creation chain in organizations from "one person, one tool" to "one person, one team" [6][4]. - The emphasis was placed on the strategic value of AI for top decision-makers, with a demonstration of a digital governance cockpit designed for investment institution leaders to monitor key information and prioritize tasks effectively [7][4].

1月19日，中国外商投资企业协会新春茶话会在京举行，商务部副部长兼国际贸易谈判副代表 凌激出席并致辞。新加坡驻华大使陈海泉、瑞典驻华大使欧思诚、瑞士驻华大使马婷、美中贸 易全国委员会会长谭森、中国欧盟商会主席彦辞等外国驻华使领馆、外国商协会、跨国公司及 中外投资促进机构300多位代表参加。 凌激表示，"十四五"时期中国吸引外资规模超过7000亿美元居发展中国家首位，外资企业在 中国高水平对外开放和高质量发展中发挥了重要作用。中国经济高质量发展的确定性、中国利 用外资政策的确定性、中国与各国经贸关系和维护多边贸易体制的确定性，将为外资企业在华 发展提供稳定预期。"十五五"规划建议为中国未来五年发展擘画蓝图，也为外资企业提供"机 遇清单"。希望外资企业坚定信心，继续投资中国，深耕中国，共享发展机遇。 美中贸易全国委员会会长谭森表示，美国商界愿支持中国高质量发展，拓展互利共赢领域。中 国欧盟商会主席彦辞表示，中国欧盟商会及其会员企业将继续为促进中国长期可持续经济增长 发挥建设性作用。与会外资企业代表表示，中国超大规模市场活力强劲，营商环境持续优化， 对在华发展前景充满信心，愿扩大在华长期投资，在中国经济高质量发展的 ...

基金管理人招募： 母基金设立： 【资讯解读】 本周资讯涉及的母基金管理规模达 5 2 5 . 6 亿元，主要分布在 北京、上海、江苏、浙江、广 东、四川、广西、河南 等地区，投资覆盖 文旅商贸、 先进制造 、未来产业等 。以下是内容 提要和具体资讯。 【内容提要】 母基金政策： 中国母基金行业资讯（ 1 . 1 7 - 1 . 2 3 ） 其他： 1 2、上海： 浦东打造百亿级国资资本运营平台 1、四川：这个省， 5 0亿成果转化引导基金招GP 2、四川：四川 省文旅商贸投资引导基金招 GP 3、江苏：南京 江宁区国企母基金 招 GP 4、江西： 鹰潭工控产业投资股权基金招 GP 5、浙江：温州 瓯海科投 招 GP 6、广西：国元产业高质量发展投资基金招 GP 7、河南： 郑州市国创战新产业投资母基金 设立 8、上海： 浦东新区设立 2 0亿元种子基金 9、浙江： 《浙江省省级政府投资基金管理办法（试行）》正式出台 1 0、广东： 《广州市科技成果转化 "补改投"试点工作办法（试行）》 发布 11、广东： 《 佛山市南海区蓝海科创天使投资基金管理办法 》 发布 1 3、上海： 上海临港新片区基金增资至 8 3 ...

Th e list wa s s e l e c t e d b y t h e Gl o b a l FOF Ass o c i a ti o n t h r o u g h r e c omme n d a ti o n , e v a l u a ti o n a n d s c o ri n g b y i n v e stme n t a ss o c i a ti o n s i n Eu r o p e , Ame ri c a , t h e Mi d d l e Ea st a n d o t h e r r e g i o n s. Th e awa r d s i n c l u d e : 当前，全球私募股权投资行业已进入到发展的新周期，市场体系越发完善、主体更为多元、机 制更加健全。 Cu rr e n tl y, t h e g l o b a l p ri v a t e e q u it y i n v e stme n t i n d u str y h a s e n t e r e d a n ew e r a , wit h t h e ma r k e t b e c ...

瑞士当地时间 2 0 2 6年1月1 9日，主题为"A Sp irit o f Di a l o g u e "的2 0 2 6年世界经济论坛年会在 达沃斯盛大开幕。1月2 0日，中共中央政治局委员、国务院副总理何立峰在瑞士达沃斯出席世 界经济论坛2 0 2 6年年会并发表致辞。何立峰表示，2 0 1 7年1月，习近平主席在达沃斯论坛发表 重要讲话，中国认真落实，坚定支持多边主义和自由贸易。近年来，习近平主席相继提出四大 全球倡议，为解决世界面临的共同问题提供了中国方案。何立峰在论坛致辞中提出四点看法： 一要坚定支持自由贸易，携手推动普惠包容的经济全球化。二要坚定维护多边主义，推动完善 更加公正合理的国际经贸秩序。三要坚持合作共赢，致力共同做大合作蛋糕，合力破解发展难 题。四要坚持相互尊重、平等协商，善用对话妥善管控分歧、解决问题。何立峰还介绍了中共 二十届四中全会情况，强调中国发展将为世界带来重要机遇，并与国际工商界人士深入交流。 瑞士当地时间 2 0 2 6年1月2 1日下午，第四届达沃斯全球母基金峰会在瑞士达沃斯的Ho t e l Str e l a酒店成功举办。本届峰会由全球母基金协会、中国国际科技促 ...

Core Viewpoint - The fourth Davos Global FOF Summit will take place on January 21, 2026, in Davos, Switzerland, hosted by the Global FOF Association and organized by the China International Technology Promotion Association's FOF branch [2][3]. Group 1: Summit Overview - The participating institutions at this year's summit are notably strong, with the number of overseas guests surpassing that of domestic attendees for the first time [3][4]. - The Global FOF Association will release the "2025 World's Best FOF Investment Institutions List," continuing its tradition of publishing an annual list for six consecutive years, selected through recommendations and evaluations from invited investment associations in Europe, the United States, the Middle East, and other regions [4][3]. Group 2: Agenda Highlights - The itinerary for the fourth Davos Global FOF Summit includes a series of keynote speeches and panel discussions scheduled from 14:30 to 20:00 [5][7]. - Keynote speeches will feature prominent figures such as Nan Li Collins from the UN Sustainable Stock Exchange and Scott Voss from HarbourVest, among others [10][12]. - Panel discussions will cover topics like macro strategies and the new paradigm of cross-border investment opportunities, featuring experts from various sectors [13].

Core Viewpoint - The Fourth Davos Global Fund of Funds Summit will take place on January 21, 2026, in Davos, Switzerland, focusing on the future development of the global fund of funds and venture capital industries, with over 100 leading figures expected to attend [2][3]. Group 1 - The summit is organized by the Global Fund of Funds Association and the China International Science and Technology Promotion Association Fund of Funds Branch, marking a significant multilateral dialogue in the global fund of funds industry [2][3]. - Previous editions of the summit have seen Chinese General Partners (GPs) raise over $1 billion, highlighting the event's importance in the private equity investment sector [4][5]. - The summit aims to discuss strategies for navigating economic cycles and explore new directions for the future of global funds and venture capital cities [3][5]. Group 2 - The guest lineup for the Fourth Davos Global Fund of Funds Summit has been unveiled, featuring prominent figures from various sectors, including finance and investment [6].

Group 1 - The establishment of the "China International Science and Technology Promotion Association Mother Fund Branch" aims to enhance the role of mother funds in China's capital market and promote the healthy development of the investment industry, particularly the mother fund sector [1][26]. - The Henan Provincial State-owned Enterprise Reform Development Equity Investment Fund, initiated by the Henan Capital Group, has a scale of 5 billion yuan and focuses on investment in key industries and strategic emerging industries within Henan Province [2][4]. - The sub-fund management institutions are required to secure at least 50% of the total fund size in investment intentions, excluding contributions from the mother fund [4]. Group 2 - Coller Capital has successfully raised $17 billion for its largest fund, Coller International Partners IX, which focuses on secondary market transactions in private equity [8][9]. - The fund aims to provide diversified investment opportunities in the private equity secondary market and has already invested over 70% of its capital [9]. - The fund's investor base includes over 250 participants, comprising major pension funds, insurance companies, sovereign wealth funds, and other financial institutions [9]. Group 3 - Guoxin Fund led a financing round for Shize Biotechnology, which specializes in iPSC-derived cell therapies for neurological diseases, highlighting the potential of cell therapy in the biopharmaceutical sector [10][12]. - Shize Biotechnology has received multiple clinical trial approvals from both Chinese and U.S. regulatory authorities, indicating its strong position in the market [12][13]. - The investment from Guoxin Fund is part of a broader strategy to enhance state-owned capital's presence in the biotechnology field, aiming to support high-quality development in cell therapy [14]. Group 4 - Wuhan Haipai Technology has officially opened in the Yangguang Chuanggu Park, focusing on large-scale interactive sports solutions, which adds momentum to the local industry [15][17]. - The company has developed advanced positioning systems and interactive technologies, with a team comprising members from leading tech firms [17]. Group 5 - The launch of the Rui Chi C9, a new smart light truck by Rui Chi Automotive, reflects the rapid development of the new energy commercial vehicle market in Chongqing, with a starting price of 169,900 yuan [20][21]. - Two Rivers Capital has been actively involved in optimizing governance and strategic decision-making for Rui Chi Automotive, ensuring alignment with long-term development goals [21]. Group 6 - The Cui Ju Fund has made a donation to Tsinghua University to support campus infrastructure and talent development, emphasizing the importance of collaboration between educational institutions and social forces [24][25].

Core Viewpoint - The establishment of a national-level merger and acquisition (M&A) fund is a strategic move by the government to promote innovation and entrepreneurship, signaling a shift towards market-driven M&A to enhance industrial integration and cultivate new productive forces [2][9]. Policy and Market Context - The announcement aligns with previous policies aimed at reforming the M&A market, including the "Six Opinions on Deepening the Reform of M&A and Restructuring in Listed Companies" and measures to support high-quality development of venture capital [2][3]. - Local governments are actively establishing large-scale state-owned M&A funds, with over 10 regions implementing supportive policies for M&A and fund establishment [2][3]. Structural Opportunities - The current environment presents a historic structural opportunity for M&A funds, driven by a more market-oriented listing process and the need for industrial consolidation in key sectors [4]. - Many industries face challenges of fragmentation, with numerous small companies, creating a demand for M&A to enhance competitiveness and develop leading enterprises [4]. Market Dynamics - The private equity market is evolving, with a shift from financial investors to active industry integrators, as evidenced by a significant increase in M&A activity involving private equity funds [7]. - The proportion of M&A exits in the private equity market remains low compared to developed markets, highlighting the need for improved exit strategies [5][6]. Challenges and Mechanisms - The successful operation of a national-level M&A fund requires a market-oriented and professional framework, including the establishment of a capable team for governance and integration [8]. - There is a need to define the roles and collaborative relationships between national, local, and market-driven M&A funds to create a cohesive ecosystem [8]. Strategic Implications - The proposed national-level M&A fund represents a paradigm shift towards a strategy that integrates national objectives with market operations, aiming to enhance industrial integration and competitiveness in critical sectors [9].