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 Viewpoint - The Shanghai Stock Exchange (SSE) is actively supporting high-quality merger and acquisition (M&A) cases to create a conducive environment for technological innovation and foreign investment needs, reflecting a new active cycle in A-share M&A activities since last year [1][3]. Group 1: M&A Activity and Trends - In 2023, A-share listed companies have disclosed over 1,000 M&A transactions, with 115 major asset restructurings, marking a 138% year-on-year increase [1]. - Half of the major asset restructurings since the release of the "Six M&A Guidelines" are technology-related, showing a 287% year-on-year increase, focusing on emerging and future industries [1][3]. - Traditional industries are seeking transformation and upgrading through M&A, either by consolidating within the same industry or acquiring upstream and downstream assets to enhance industrial integration [1]. Group 2: International Investment Opportunities - The M&A market serves as a bridge connecting domestic and international markets, with companies actively pursuing overseas acquisitions for advanced technologies and new market opportunities while also attracting foreign investment to improve internal governance [3]. - International investors are encouraged to strategically invest in A-share technology companies, particularly those on the Sci-Tech Innovation Board, to capitalize on China's technological innovation dividends [3]. Group 3: Regulatory and Institutional Improvements - The SSE aims to attract more high-quality companies to list and enhance the quality of listed companies by deepening investment and financing reforms [4]. - Continuous improvement of the M&A regulatory framework is emphasized, with a focus on market-oriented reforms and responsiveness to investor needs [4][5]. - The SSE is committed to creating a more inclusive regulatory environment that respects market innovation while ensuring effective oversight [5]. Group 4: Enhanced Services for Investors - The SSE is dedicated to becoming a service-oriented exchange, offering M&A courses, summarizing case studies, and providing practical manuals to improve operational capabilities [5]. - Efforts are being made to enhance communication with global investors and optimize cross-border connectivity mechanisms to facilitate easier investment in the Chinese market [5].