On July 9, the Shanghai Municipal Commission of Economy and Informatization unveiled the "Three-Year Action Plan for Accelerating the Development of High-Growth Enterprises in Shanghai (2025-2027)." This plan aims to bolster unicorn companies by facilitating mergers and acquisitions (M&A) to optimize the industrial ecosystem, foster technological advancements, and stimulate independent innovation. Concurrently, it encourages the participation of securities firms, asset management companies, equity investment funds, and industrial investment funds in corporate M&A activities. This includes the establishment of M&A funds to provide financing support. Furthermore, the plan advocates for banks to engage in M&A loan business, expanding loan scales and offering comprehensive credit lines to post-merger enterprises. It also supports enterprises in cross-border M&A endeavors.