Shanghai Municipal Government Promotes Mergers and Acquisitions of Listed Companies

According to the Shanghai Action Plan to Support Listed Companies' Mergers and Acquisitions (2025-2027), the Shanghai Municipal Government will accelerate the cultivation and gathering of merger and acquisition funds. The plan encourages the introduction of professional market-oriented merger and acquisition fund managers, attracts and gathers market-oriented merger and acquisition funds, and provides a fast track for the establishment of qualified equity investment funds. At the same time, the government also plans to use 10 billion yuan of integrated circuit design industry merger and acquisition funds and 10 billion yuan of biopharmaceutical industry merger and acquisition funds. In addition, government investment funds will participate in the investment of merger and acquisition funds through common stocks, preferred stocks, convertible bonds, etc., and make appropriate concessions when necessary. For "chain leader" enterprises, if they carry out mergers and acquisitions around the key links of their industrial chain through corporate venture capital (CVC), then their CVC fund establishment will also be included in the fast track.