Shanghai: Encouraging industrial mergers and acquisitions

On July 31st, Shanghai issued the implementation opinions on further giving play to the role of capital markets to promote the high-quality development of science and technology innovation enterprises in the city. It is mentioned that industrial mergers and acquisitions are encouraged. Leading listed companies are encouraged to base themselves on their main business and increase the resource integration of enterprises related to the industrial chain by absorbing mergers, holding or equity participation. Financial Institution Groups are encouraged to provide M & A loans, M & A insurance, M & A bonds and other financial products for M & A restructuring and subsequent operations. Promote the innovation pilot of non-resident M & A loans, and study the innovation pilot of M & A loans for technology-based enterprises. Encourage listed companies to acquire high-quality overseas assets and provide convenient support in terms of capital outbound and cross-border share swaps.