支持各类优质并购案例加快落地 上交所副总经理王泊发声

Core Insights - The Shanghai Stock Exchange (SSE) is actively supporting high-quality merger and acquisition (M&A) cases to create a conducive environment for technology innovation and foreign investment needs [1][3] Group 1: M&A Activity and Trends - In 2023, the Chinese capital market has shown a significant upward trend, with over 1,000 M&A transactions disclosed by listed companies in the Shanghai market, including 115 major asset restructurings, representing a 138% year-on-year increase [1] - Approximately 50% of major asset restructurings since the introduction of the "Six M&A Guidelines" are technology-related, with a year-on-year increase of 287%, indicating a strong focus on emerging and future industries [1] - Traditional industries are also seeking transformation and upgrading through M&A, focusing on consolidating resources within the same industry or along the supply chain to find new growth opportunities [1] Group 2: International Investment and Market Integration - The M&A market is seen as a bridge connecting domestic and international markets, with companies encouraged to "go out" for overseas acquisitions while also "bringing in" foreign investment to enhance internal governance and company image [3] - The SSE has reported that foreign capital has participated in over ten share issuances in the Shanghai market since the introduction of new investment management regulations [3] - International investors are encouraged to strategically invest in A-share technology companies and traditional industries with transformation potential to capitalize on undervalued assets and value re-evaluation opportunities [3] Group 3: Future Directions and Regulatory Environment - The SSE aims to attract more high-quality companies to list, enhancing the quality of listed companies and promoting China's premium assets [4] - Continued efforts will be made to deepen market-oriented reforms in M&A, optimize regulatory frameworks, and respond to investor demands to create a more adaptable and inclusive M&A environment [4] - The SSE is committed to improving regulatory effectiveness and supporting high-quality M&A cases while fostering a service-oriented exchange that enhances communication with global investors [4]