宏观观察2024年第25期（总第536期）：我国私募股权投资市场发展动态、国际比较及相关建议＊

Market Overview - In 2023, the number of newly raised private equity funds in China was 6,980, with a total scale of 1,824.47 billion RMB, representing a decline of 1.1% and 15.5% respectively compared to the previous year[64] - The total investment amount in 2023 was 692.83 billion RMB, with a year-on-year decrease of 23.7%[64] - The global private capital market raised 1,175.5 billion USD in 2023, a decrease of 20.5% year-on-year[64] Regulatory Environment - The private equity investment industry in China has entered a strong regulatory phase, with a significant reduction in the number of non-compliant institutions[14] - By December 2023, the number of existing private equity and venture capital fund managers was 12,893, down 9.86% from the previous year[14] Investment Trends - The proportion of domestic institutional investors in China's private equity market reached 56.80%, while individual investors accounted for only 7.75%[21] - In 2022, the scale of private equity funds in China was approximately 11.11 trillion RMB, compared to 6.02 trillion USD in the US, indicating that the US market is about four times larger[20] Challenges and Opportunities - The private equity market in China faces challenges such as a low temperature in fundraising and investment, with a need to encourage long-term capital investments from pension funds and family offices[54] - The government-led funds accounted for 40.6% of the total scale of newly raised RMB funds in 2023, indicating a growing role of state capital in the private equity market[99]