拓宽创业投资退出渠道

Group 1 - The development of venture capital is crucial for promoting a virtuous cycle among technology, industry, and finance [1] - The Chinese venture capital industry has grown significantly, playing an important role in supporting enterprise growth and fostering innovation [1] - The "exit difficulty" issue has become more prominent due to factors such as the slowdown of IPOs and a backlog of companies awaiting exit, impacting the investment cycle [1] Group 2 - The IPO has traditionally been the most relied-upon exit method for the Chinese venture capital industry, but the recent tightening of IPO regulations has led to a decrease in exit rates [2] - Fund managers are encouraged to seek alternative exit opportunities, such as mergers and acquisitions, to reduce dependence on IPOs [2] - There is a need for policy support to foster the development of merger funds and facilitate clearer exit channels for venture capital funds [2]