北京发布“并购十九条” 支持运作规范的公司并购境内外优质项目

Core Viewpoint - The Beijing Municipal Government has released a set of guidelines aimed at promoting mergers and acquisitions (M&A) to enhance the quality of listed companies, emphasizing the importance of industry consolidation and resource integration [1][2]. Group 1: Encouragement of M&A Activities - The guidelines encourage listed companies to engage in M&A to strengthen industry integration and reduce competition within traditional sectors [1]. - Companies are urged to leverage their core business strengths to consolidate assets within their industry or along the supply chain, aiming to grow into enterprises with market capitalizations of hundreds of billions or even trillions [1]. - The guidelines support private equity funds in acquiring listed companies to facilitate industry consolidation [1]. Group 2: Cross-Industry and Cross-Regional M&A - The guidelines promote the organized M&A of listed companies across different industries and regions, aligning with the needs for industrial transformation and seeking new growth avenues [2]. - Support is provided for listed companies in the Beijing-Tianjin-Hebei region to conduct cross-regional M&A, focusing on specific industrial chains and clusters [2]. - The guidelines also encourage foreign investors to strategically invest in listed companies to enhance their international competitiveness [2]. Group 3: Support for M&A Projects - The Beijing government aims to attract significant M&A projects to the city, offering tailored services based on the characteristics and needs of different ownership types [2]. - Support is extended to private listed companies to conduct M&A in a standardized manner, facilitating their high-quality development [2]. - The guidelines allow companies to choose between IPOs or M&A for listing, promoting rapid growth through capital markets [2]. Group 4: Market Activity and Policy Support - Since 2024, the China Securities Regulatory Commission and other relevant departments have been implementing reforms and policies to encourage M&A, resulting in increased market activity in Beijing [3].