Tianjin: Allowed state-owned assets and government-led funds to exit low-profit or loss-making projects through mergers and acquisitions under the premise of fulfilling duties.

The Tianjin Local Financial Supervision Bureau, Tianjin Securities Regulatory Bureau, Municipal Finance Bureau, and other 7 departments recently jointly issued the "Tianjin Measures to Support Mergers and Acquisitions and Restructuring". Among them, it is proposed to build a capital market service platform in Tianjin, strengthen information sharing and business coordination, and expand the supply of innovative products such as science and technology innovation bonds, infrastructure public REITs. Relying on 12 key industrial chain enterprises, resources for listing, and companies in Tianjin High-Tech Innovation Park, comprehensively identify and reserve high-quality merger and acquisition targets to build a target resource pool covering the modern industrial system. Establish a capital market service alliance involving banks, securities firms, funds, and law firms, create professional merger and acquisition restructuring service teams, and conduct policy training and precise matching through the technology financial roadshow center. Open green channels for registration, environmental impact assessment, etc. for key industrial projects. Implement supervision in accordance with laws and regulations, improve the performance evaluation and fault-tolerant mechanism of state-owned and government-led funds, and allow the exit of mergers and acquisitions in case of minimal profits or losses while fulfilling responsibilities.