The China Securities Regulatory Commission recently officially approved it to launch a pilot private equity investment and venture capital fund share transfer project at the Shenzhen Qianhai Equity Exchange Center. This is a key breakthrough in serving innovative capital in the Shenzhen regional equity market. The approval of this pilot indicates that the Shenzhen Stock Exchange has the compliance qualifications to carry out private equity share transfers and related supporting services. The Shenzhen Stock Exchange has now formulated and completed the “1+N” business rules system, clarifying the listing conditions, material requirements, transaction methods and supervision mechanisms for fund share transfers; at the same time, it has launched a business system to provide comprehensive services for private equity fund share transactions. The Shenzhen Stock Exchange will further make up for the shortcomings in the exit process of the private equity venture capital industry in Shenzhen, open up a virtuous cycle of “fundraising, investment management and withdrawal”, and provide solid platform support for innovative capital to “enter, retain, and exit”.

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