Shanghai Municipal Development and Reform Commission and other departments
issued Measures to Better Leverage Direct Financing to Strengthen Tech-Financial
Services, directing policymakers to: strengthen public disclosure of review
standards for listed-company acquisitions of technology firms; support
counterparties negotiating transaction pricing based on diversified valuation
methods; leverage third-party market platforms and build a tech M&A case library
and valuation database; pilot simplified review procedures for typical tech
deals and promote third-party‑led M&A; coordinate national‑level M&A fund
linkages and deploy Shanghai’s state‑owned asset M&A fund matrix to attract
market‑oriented M&A funds around tech industry chains; and encourage domestic
insurers to partner with overseas institutions to develop localized M&A
insurance products.
