并购圈开始沸腾

Core Viewpoint - The Chinese government is emphasizing the importance of mergers and acquisitions (M&A) as a means to stimulate domestic demand and drive economic growth, with plans to establish a national-level M&A fund to support this initiative [1][4][7]. Group 1: Government Initiatives - The National Development and Reform Commission (NDRC) aims to leverage the national venture capital fund as a benchmark and is researching the establishment of a national-level M&A fund to enhance government investment fund planning and guidance [1][4]. - The "New National Nine Articles" released in April 2024 highlights the need to strengthen M&A reform and encourages listed companies to focus on their core businesses while utilizing M&A and equity incentives to improve development quality [4][5]. - The China Securities Regulatory Commission (CSRC) has introduced six measures to promote M&A, marking a new chapter in the M&A market [4][5]. Group 2: Market Trends - The past two years have seen a surge in M&A activities within the venture capital sector, indicating a robust growth phase for the M&A market [2][4]. - The establishment of various local state-owned capital M&A funds, such as the Beijing Jingguochuangzhisuan M&A Equity Investment Fund with a registered scale of 30 billion RMB, reflects the increasing focus on M&A by local governments [5][6]. - The Shanghai Global Investment Promotion Conference announced a national-level M&A fund matrix with a total scale exceeding 50 billion RMB, involving key sectors like integrated circuits, biomedicine, and aerospace [6][7]. Group 3: Industry Outlook - The rapid establishment of M&A funds across various provinces, including Guangdong, Zhejiang, and Xiamen, showcases a nationwide trend towards enhancing M&A capabilities [6][7]. - A partner from an M&A fund recently predicted that the demand for M&A in China is so strong that it cannot be suppressed, indicating a bullish outlook for the sector [8].