“2024-2025年度股权投资竞争力系列调研”案例征集启动

Core Insights - 2024 is a year of restructuring for China's private equity investment industry, with a continued tightening trend in fundraising and a significant slowdown in investment pace [1][2] - Positive signs are emerging, with several large funds established in the second half of 2024 and a narrowing decline in investment case numbers and amounts compared to previous periods [1] - By 2025, signs of recovery in the primary market are becoming more evident, driven by breakthroughs in Chinese tech companies, leading to a reassessment of their value by foreign investors [1][2] Fundraising and Investment Trends - The number of government-guided funds reached 1,627 with a total scale of 3.35 trillion yuan by the end of 2024, showing a compound annual growth rate (CAGR) of 19.85% in quantity and 35.33% in scale from 2014 to 2024 [5] - The tightening fundraising environment is expected to ease, with a decrease in the scale of new fundraising continuing to shrink [1] Policy and Regulatory Environment - The State Council issued guidelines to promote the high-quality development of government investment funds, enhancing the top-level design for fund establishment, investment, management, and exit [5] - Recent policies have expanded the investment scope of financial asset investment companies and increased the maximum investment ratio for insurance companies in single venture capital funds [1] Research and Evaluation Initiatives - The "2024-2025 Annual Government Investment Fund Competitiveness Evaluation Research Case" will assess government investment funds based on policy performance, management efficiency, and capital efficiency [5][6] - The evaluation process includes on-site visits, questionnaire surveys, data analysis, and comprehensive evaluations, culminating in results to be published by October 30, 2025 [6][10] ESG and Innovation Focus - The industry is increasingly focusing on ESG (Environmental, Social, and Governance) considerations, with institutions establishing systematic ESG evaluation frameworks [12] - The upcoming research will also include evaluations of the most investment-worthy enterprises, emphasizing innovation, growth, and financing capabilities [13][14]