宏观观察2024年第31期（总第542期）：金融与科技“双向赋能”：新政策、新机遇及建议＊

Group 1: Policy Initiatives - The China Securities Regulatory Commission (CSRC) introduced the "New National Nine Measures" on April 12, 2024, aimed at enhancing the quality of capital market development and supporting technology enterprises[11] - On April 19, 2024, the CSRC released "Sixteen Measures for Capital Market to Serve High-Level Development of Technology Enterprises," which includes establishing a financing "green channel" for tech firms[11] - The "Eight Measures" released on June 19, 2024, focus on deepening the reform of the Sci-Tech Innovation Board to support innovative technology enterprises[11] Group 2: Market Trends - In the first half of 2024, the number of IPOs in China's A-share market dropped to 30, raising a total of 23.56 billion yuan, a decrease of 55.9% and 63.8% year-on-year respectively[5] - The number of companies listed on the A-share market in 2023 was 313, with a total fundraising amount of 411 billion yuan, reflecting a year-on-year decline of 27% and 39%[11] - The private equity industry in China reached a total paid-in capital of 19.9 trillion yuan by the end of Q1 2024, with over 152,000 funds established[56] Group 3: Financing Mechanisms - The establishment of a "green channel" for technology enterprises is crucial for addressing financing difficulties and facilitating quicker access to funds[4] - The new policies encourage banks to enhance their participation in investment and loan linkage, private equity investments, and other financing opportunities for tech firms[21] - The introduction of a shelf registration system for refinancing is expected to simplify the fundraising process for technology enterprises, allowing for "one-time approval, multiple issuances"[55]