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In 2024, China's equity investment market has entered a new historical cycle.

Today, the venture capital primary market, which has supported China's technological innovation for more than 20 years, has been completely restructured, and the main investors behind it have completely changed from US dollar funds to RMB funds. In this RMB-dominated internal circulation investment system, state-owned capital and industrial capital are the absolute main forces. According to the information filed and disclosed by the Asset Management Association of China, among the 7,383 private equity funds filed in 2023, the subscribed capital of local government-guided funds and state-owned capital accounted for 70%.

State-owned capital is driven by national industrial policies and local economic development strategies and has a clear industrial orientation. Its core purpose is to support and revitalize the local economy through attracting investment, to serve as the main force in serving the real economy and the ballast stone for maintaining financial stability, and to promote the Chinese economy to maintain a higher quality "new normal" growth.

Now, local governments have gradually established investment clusters in various key industries, leveraging the reasonable participation of market-oriented capital, including private enterprises, to jointly promote the overall upgrading of China's industries, especially strategic emerging industries driven by innovative technologies. These include: advanced manufacturing, artificial intelligence, embodied intelligence, semiconductor chips, new materials, new energy and other hard technology fields.

At this historical moment, 36Kr launched the2024 China Industrial Investment Fund"cum"2024 "Boutique Investment Bank in China's Equity Investment Market""Research!

Among them, the "2024 China Industrial Investment Fund Survey" will be based on the "36Kr Equity Investment Market Online Survey System" (https://touzi.36kr.com/, please register first if you need to apply), to select China's most influential industrial investment funds, China's best ESG investment practice investment institutions, and China's top ten industrial investment funds/investors.

The basis for selecting the final list of China's industrial investment funds will comprehensively consider the overall performance of each applicant fund in the "fund raising, investment, management and exit" links, including: 1) management scale; 2) influence in various key industries; 3) investment activity in the past 3+1 years, star projects, and the number of projects for which the portfolio company has subsequently obtained new financing; 4) detailed dimensions such as exit return level.

2024 China Industrial Investment Fund

In addition, the "2024 China Equity Investment Market Boutique Investment Bank Survey" will invite boutique investment banks with in-depth industry knowledge to participate in the selection via email (if you need to register, please send an email to: [email protected] to obtain the survey questionnaire). We will select China's most industry-influential boutique investment bank, China's most industry-growing boutique investment bank, and China's top ten industry boutique investment banks.

2024 "Boutique Investment Bank in China's Equity Investment Market"

Finally, we expect to hold a China Industry Future Conference at the end of September this year, with the participation of Chinese industrial investors, Chinese industrial boutique investment banks and government-guided funds. The full list of "China Industrial Investment Fund in 2024" and "China Equity Investment Market Boutique Investment Bank in 2024" will also be officially announced at the conference, so stay tuned!