Group 1 - The core viewpoint of the report indicates that Shanghai, Shenzhen, and Beijing are leading the Chinese venture capital market in both vitality and innovation indices for 2024 [1][2] - The report highlights a significant gap between the top three cities and the subsequent ones, showcasing a "head-led, tiered differentiation" pattern in venture capital vitality [2] - In terms of fundraising, investment, and exit indices, Beijing ranks first in fundraising due to its concentration of top financial institutions and national funding platforms [2] Group 2 - In the innovation index, Beijing maintains a clear lead, supported by national laboratories, central enterprise R&D headquarters, and top universities [2] - The semiconductor integrated circuit sector ranks among the top three in most major cities, indicating a strong capital aggregation effect [3] - The healthcare sector, particularly biopharmaceuticals and medical devices, remains highly active across multiple cities, reflecting sustained interest in the medical health field [3]