《中国城市创投活力与城市创新力指数报告》发布：创投与创新联动发展 头部城市引领、区域特色赛道凸显

Core Insights - Venture capital has become a crucial driver for local economic development in China, with cities actively enhancing their investment ecosystems to attract quality investment institutions and innovative enterprises [1][2] Group 1: City Rankings and Trends - In the 2024 venture capital vitality index, Shanghai, Shenzhen, and Beijing ranked as the top three cities, significantly ahead of others, indicating a "head-leading, tiered differentiation" pattern [2] - From 2018 to 2024, the venture capital vitality index for various cities showed a fluctuating downward trend, with Beijing experiencing the most significant decline from 4302 in 2020 to 2166 [5] Group 2: Fundraising Performance - Beijing leads in fundraising index due to its concentration of top financial institutions and national funding platforms, followed by Shanghai and Suzhou, with Jiaxing, a prefecture-level city, impressively ranking seventh [7] - The fundraising index for the top 10 cities has been in significant decline from 2018 to 2024, with only Beijing showing a slight increase in 2024 due to substantial contributions from national guiding funds [10] Group 3: Investment Activity - Shanghai ranks first in investment index for 2024, with Beijing and Shenzhen following closely, while the investment indices for the top 10 cities have also shown a downward trend from 2018 to 2024 [11] - Shanghai and Shenzhen together accounted for 37% of the total investment projects in the top 10 cities, highlighting their roles as innovation engines [13] Group 4: Exit Strategies - Shenzhen leads in exit index, breaking the dominance of Beijing and Shanghai in fundraising and investment, showcasing its efficiency in exits [15] - The strong performance of the Yangtze River Delta region is evident, with Suzhou and Hangzhou also making it into the top 10 for exits [15] Group 5: Innovation and Investment Linkage - There is a notable correlation between city innovation power and venture capital vitality, with Beijing, Shanghai, and Shenzhen leading in both indices [17] - Beijing's innovation strength is bolstered by its national laboratories and top universities, while Shanghai benefits from its leading enterprises [19] Group 6: Sector Concentration - The semiconductor and integrated circuit sector dominates national investments, ranking among the top three in all major cities [20] - The healthcare sector, driven by biopharmaceuticals and medical devices, remains highly active, with significant investments across multiple cities [21] Group 7: Regional Characteristics - Beijing focuses on artificial intelligence as its primary investment sector, while Shenzhen excels in computer vision, reflecting a deep connection between local industry resources and capital choices [22] - In 2024, Suzhou recorded 697 investment events with an estimated funding amount of 27.27 billion, while Hangzhou had 577 events with 21.25 billion in funding [22] Group 8: Emerging Trends in Shenzhen - Shenzhen's private equity and venture capital funds have been growing, with a 75% year-on-year increase in LP contributions, reaching 127.5 billion in 2024 [23] - The Guangming District in Shenzhen has shown remarkable performance in attracting external funds, with 81% of LPs coming from outside the district [23][24]