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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.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."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.

Since then, after continuing to Shenzhen and Anhui, Shanghai has also made efforts in mergers and acquisitions.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.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."[Shanghai 10 billion M&A Fund! 】Big move! Two billion M&A and restructuring funds in Shanghai have come to target the chip and pharmaceutical industries.