[Shenzhen Stock Exchange Approved for Private Equity Investment and Venture Capital Fund Share Transfer Pilot] On October 27, the China Securities Regulatory Commission recently officially approved the launch of a private equity investment and venture capital fund share transfer pilot at the Shenzhen Qianhai Equity Exchange Center. This is a key breakthrough for Shenzhen’s regional equity market to serve innovative capital. The approval of this pilot indicates that Shenzhen Stock Exchange has the compliance qualifications to carry out private equity fund share transfers and related supporting services. Shenzhen Stock Exchange has now 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 an online business system to provide comprehensive services for private equity fund share transactions. Shenzhen Stock Exchange will further make up for the shortcomings in the exit link of Shenzhen's private equity and venture capital industry, open up a virtuous cycle channel of "raising, investing, managing and exiting", and provide a solid platform support for innovative capital to "come in, retain and exit".