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"The government's participation in M&A fund investment does not mean that the government will dominate the M&A business, but encourage market-oriented institutions and chain owners to lead the M&A business through the above-mentioned M&A fund or parent fund support." Bu Rixin believes.Unlike Shenzhen and Anhui, which made good use of "green channel" policies such as debt financing, mergers and acquisitions, and vigorously developed equity-based M&A funds, this time Shanghai directly gave the scale of M&A funds.For the biomedical industry, Bu Rixin told the reporter of science and technology innovation board Daily that the investment cycle of biomedicine is generally long, and it needs to go through multiple stages from research and development to listing.

The "Action Plan" proposes to strive to land a number of representative M&A cases in key industries by 2027, and cultivate about 10 internationally competitive listed companies in key industries such as integrated circuits, biomedicine and new materials.In this regard, Bu Rixin believes that "chain owners" enterprises, as market-oriented institutions, set up CVC funds and will carry out horizontal and vertical mergers and acquisitions around the upstream and downstream of key industrial chains. "This kind of M&A will help chain-owner enterprises to expand their market scale and enhance their market competitiveness, which is the most in line with the logic of M&A and the basic logic of the Action Plan to encourage chain-owner enterprises to set up CVC funds."

Yuan Shuai, the founder of the new productivity meeting room of Xinzhi School, said in an interview with the reporter of science and technology innovation board Daily that the Yangtze River Delta where Shanghai is located is an important place of integrated circuit industry, and the establishment of the 10 billion yuan integrated circuit design industry M&A fund is a strong support for Shanghai's semiconductor design industry.The policy is favorable for surprise attack and seize the opportunity to get on the bus > >In addition to the integrated circuit design industry, Shanghai will also set up a M&A fund for the biomedical industry with a scale of 10 billion yuan.