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国常会促进创投行业良性循环 板块有望站上风口

The State Council meeting promotes a virtuous cycle in the venture capital industry, and the sector is expected to seize the opportunity.

cls.cn ·  Sep 18 19:41

On September 18th, the executive meeting of the State Council pointed out that venture capital is related to technological innovation, industrial upgrading, and high-quality development. It is necessary to quickly resolve the bottlenecks and difficulties in the various stages of fundraising, investment management, and withdrawal, support eligible technology-based enterprises to list both domestically and internationally, vigorously develop the equity transfer and mergers and acquisitions market, and promote a healthy cycle in the venture capital industry.

On September 18, the State Council executive meeting was held to discuss related measures to promote the development of venture capital. It was pointed out that venture capital is related to technological innovation, industrial upgrading, and high-quality development. It is necessary to quickly resolve the bottlenecks and obstacles in various links of fundraising, investment, and exit, support technology-based companies that meet the criteria to list domestically and internationally, vigorously develop the stock transfer and M&A market, promote the pilot program of physical distribution of stocks, encourage private capital to establish market-oriented M&A funds or secondary market funds for venture capital, and promote a healthy cycle in the venture capital industry.

According to the analysis report "2019-2023 National Asset Platform" by Zero2IPO, state-owned institutions have become important players in the primary market. From 2019 to 2023, state-owned institutions made direct investments totaling as high as 1.59 trillion, investing directly in approximately 12,900 enterprises. One out of every three companies received direct investment from state-owned institutions, effectively promoting the development of new industries such as semiconductors, artificial intelligence, biomedical engineering, and advanced manufacturing. Lin Xipeng of China Merchants Securities pointed out that the development of new productive forces relies on original and disruptive technological innovation, which inevitably involves tremendous uncertainty. Patient capital, represented by state-owned capital, pays more attention to long-term benefits, aligning with the nature of new productive forces and embodying the functional value essential to the current state-owned enterprise reform.

According to the Financial Data Center, among related listed companies:

Tianjin TEDA Co., Ltd. is controlled by Tianjin TEDA Investment Holdings Co., Ltd., a local state-owned enterprise. The company has shares in Beijing Harmony Growth Investment Center and owns 10 holding subsidiaries, 16 equity-participating companies, and indirect holdings in over 40 companies.

Huajin Capital, under Zhuhai Jin Group, is the only holding listed platform with strong expectations for asset injection. The company has invested in chip companies such as Horizon Robotics, Boya, and Px-Alpha.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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