专访贝恩公司全球合伙人、大中华区私募股权基金业务主席周浩：企业估值回归理性区间，中国优质资产配置窗口开启

Group 1 - The core viewpoint of the articles highlights a significant rebound in the Chinese VC/PE market, driven by a renewed interest from international capital, particularly in the technology and AI sectors [1][2][4] - Bain & Company's report indicates a 7% increase in total investment transactions in the Chinese private equity market for 2024, reaching $47 billion, following two years of decline [2][5] - The shift in international capital's attitude is marked by increased inquiries and due diligence from foreign investors, reflecting a growing confidence in the Chinese market [2][3] Group 2 - The valuation of Chinese assets has returned to a more rational range after a period of excessive premiums, which previously deterred foreign investors [5][6] - The Chinese government's recent policies aimed at expanding domestic demand and promoting consumption are injecting new vitality into the market, making it more attractive for international investors [6][7] - The investment paradigm is shifting from viewing China primarily as a "world factory" to recognizing it as a source of technological innovation, particularly in AI and renewable energy sectors [6][7] Group 3 - The active mergers and acquisitions in China's retail sector indicate ongoing optimism from foreign investors regarding the Chinese consumer market [6][7] - Domestic investment firms are well-positioned to identify quality targets early due to their deep understanding of local policies and industry trends, which can complement the influx of foreign capital [7]