证券时报×执中重磅发布！《中国城市创投活力及城市创新力指数报告》来了

Group 1: Investment Landscape - Venture capital has become a crucial tool for local economic development in China, with cities focusing on government investment funds and optimizing the investment ecosystem [1] - The 2024 China Urban Venture Capital Vitality Index ranks Shanghai, Shenzhen, and Beijing as the top three cities, indicating a significant lead over other cities [2][1] - The report highlights a downward trend in venture capital vitality indices from 2018 to 2024, with Beijing experiencing the most significant fluctuations [5] Group 2: Fundraising Insights - Beijing leads in fundraising index due to its concentration of top financial institutions and national funding platforms, followed by Shanghai and Suzhou [7] - The overall fundraising index for the top 10 cities has seen significant fluctuations and a general decline from 2018 to 2024, with only Beijing showing a slight increase in 2024 due to national fund contributions [10] Group 3: Investment Performance - Shanghai ranks first in investment index for 2024, with Beijing and Shenzhen following closely, indicating a competitive investment environment among top cities [11] - The number of funded projects and investment events in Shanghai and Shenzhen accounts for 37% of the total in the top 10 cities, showcasing their role as innovation engines [13] Group 4: Exit Strategies - Shenzhen leads in exit index, breaking the dominance of Beijing and Shanghai in fundraising and investment, highlighting its efficiency in capital exit [15] - The strong performance of the Yangtze River Delta region is noted, with cities like Suzhou and Hangzhou making it into the top 10 for exits [15] Group 5: Innovation Capacity - The innovation capacity index is closely linked to 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 industrial advantages [19] Group 6: Sector Concentration - The semiconductor and integrated circuit sector is identified as the core area of investment across major cities, with significant capital concentration [20] - The healthcare sector, driven by biopharmaceuticals and medical devices, remains a hot area for investment, with multiple cities ranking highly in these fields [21] Group 7: Regional Characteristics - Beijing focuses on artificial intelligence as its primary investment sector, while Shenzhen excels in computer vision, reflecting the deep connection between local resources and capital choices [22] - Suzhou and Hangzhou are emerging as strong players in venture capital and innovation, with significant investment activity reported in 2024 [22] Group 8: Shenzhen's Growth - Shenzhen's private equity and venture capital funds are growing, with a notable increase in LP contributions and a high number of investment events in 2024 [23] - The Guangming District in Shenzhen is highlighted for its ability to attract external funding, with a significant portion of its capital coming from outside the region [23][24]