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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.Big move! Two billion M&A and restructuring funds in Shanghai have come to target the chip and pharmaceutical industries."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.

In its view, this 10 billion M&A fund is not only 10 billion yuan, but also a way for the government to encourage and guide M&A through the amplification of M&A funds. "In short, whether it is the M&A fund of the integrated circuit design industry or the M&A fund of biomedicine, the core purpose is to guide the orderly development of the industry and avoid the dependence on the IPO path, leading to excessive competition in the industry."It is worth mentioning that the Action Plan also mentioned that if the "chain owner" enterprises carry out mergers and acquisitions around the key links of the industrial chain through enterprise venture capital (CVC), the establishment of CVC funds will be included in the fast track. At the same time, government investment funds can participate in M&A fund investment through common shares, preferred shares and convertible bonds, and make appropriate profits.In July this year, when Shanghai promoted the establishment of the parent fund of three leading industries with a total scale of 100 billion yuan, it said that it would focus on the three leading industries of integrated circuits, biomedicine and artificial intelligence, and give play to the functions of "investing early and investing small", industrial investment, merger and acquisition integration, and strengthening the chain, so as to improve the overall energy level and development level of the three leading industries in Shanghai.

In July this year, when Shanghai promoted the establishment of the parent fund of three leading industries with a total scale of 100 billion yuan, it said that it would focus on the three leading industries of integrated circuits, biomedicine and artificial intelligence, and give play to the functions of "investing early and investing small", industrial investment, merger and acquisition integration, and strengthening the chain, so as to improve the overall energy level and development level of the three leading industries in Shanghai.The "10 billion yuan M&A fund for integrated circuit design industry" stated in the Action Plan is considered by the market as a supplement to the 100 billion yuan parent fund for the three leading industries.