Market overview: The H1’22 GDP grew by 0.4% YoY and the real economy became more resilient Macroeconomy: A package of policies and measures to stabilize the economy has been released to efficiently coordinate covid control and economic development VC/PE supervision: The VC/PE industry has improved standardization and the market environment is open and inclusive VC/PE policy: Many places continue to support the development of the VC/PE industry and encourage the building of sci-tech venture capital centers U.S. vs. China: China’s VC/PE market kept slowing down and VC&PE investment in the U.S. rose slightly YoY Market overview: There were 379 newly registered equity investment fund managers in H1’22 and the number of deregistered reached 561 Market overview: There were 49,200 equity investment funds * filed with the AMAC as of the end of H1’22 with 4,109 in H1’22.

2022年上半年，中国股权投资基金新募集数量和金额分别达2,701支，7,724.55亿人民币，同比下滑7.2%、10.3%，人民币基金中大额基建和国资产业基金频频设立；同时受海外上市环境恶化等因素影响外币基金募资持续放缓。

清科创业（01945.HK）旗下清科研究中心发布《2022年第一季度中国股权投资市场研究报告》。数据显示，2022年第一季度，受复杂的国际形势和频发的国内疫情影响，我国股权投资市场整体交易节奏放缓。

China VC/PE Market Review Q3’21

2021年前三季度中国股权投资市场回顾与展望

China VC/PE Market Review H1’21

完整版

On April 16, 2021, the National Bureau of Statistics released the latest national economic data, showing that in Q1’21, China's GDP increased by 18.3% YOY and economic operation kept the momentum of stable growth while continued the pandemic prevention and control.

清科研究中心重磅发布《2020年前三季度中国股权投资市场回顾与展望》，全国经济复工复产下股权投资市场稳步回暖！

Zero2IPO Research has regularly published research reports on China's venture capital and private equity investment industry since 2000, and it has gone through 20 years. We are prepared to set out on a new journey. China VC/PE Market Review — 20-Year Anniversary Special sorts out and summarizes the crucial changes of science and technology development, economic growth and capital market in recent years, reviews the process and industry changes of China's VC/PE market in the past 20 years, analyzes the current situation of the VC/PE industry from the perspectives of fundraising, investment and exit, and looks forward to the future trend, presenting a panorama of China's VC/PE market.