The Finance Committee Office of the Shanghai Municipal Committee of the Communist Party of China, the Shanghai Development and Reform Commission and other departments issued “Certain Measures to Further Strengthen Technology Finance Services by Fully Utilizing Direct Financing Functions in Shanghai”, which proposed improving the technology merger and acquisition ecosystem. Continue to strengthen the disclosure of audit standards for mergers and acquisitions of listed companies and technology enterprises, and support both parties to the transaction to negotiate and determine transaction prices based on diversified evaluation methods. Use the functions of a third-party market-based service platform to build a science and technology enterprise merger and acquisition case library and valuation database. Promote the implementation of typical cases where technology companies apply simple review procedures, and encourage third party mergers and acquisitions. Do a good job in national-level M&A fund matchmaking services, give full play to the role of Shanghai's state-owned M&A fund matrix, attract market-based M&A funds, and carry out M&A transactions around the technology enterprise industry chain. Domestic insurance companies are encouraged to develop technical cooperation with overseas institutions to develop and launch localized M&A insurance products.

The Finance Committee Office of the Shanghai Municipal Committee of the Communist Party of China, the Shanghai Development and Reform Commission and other departments issued “Certain Measures to Further Strengthen Technology Finance Services by Fully Utilizing Direct Financing Functions in Shanghai”, which proposed improving the technology merger and acquisition ecosystem. Continue to strengthen the disclosure of audit standards for mergers and acquisitions of listed companies and technology enterprises, and support both parties to the transaction to negotiate and determine transaction prices based on diversified evaluation methods. Use the functions of a third-party market-based service platform to build a science and technology enterprise merger and acquisition case library and valuation database. Promote the implementation of typical cases where technology companies apply simple review procedures, and encourage third party mergers and acquisitions. Do a good job in national-level M&A fund matchmaking services, give full play to the role of Shanghai's state-owned M&A fund matrix, attract market-based M&A funds, and carry out M&A transactions around the technology enterprise industry chain. Domestic insurance companies are encouraged to develop technical cooperation with overseas institutions to develop and launch localized M&A insurance products.