Less than 2 months after Shanghai issued “Certain Measures to Further Promote the High-Quality Development of Shanghai's Equity Investment Industry” (“Certain Measures”), Pudong New Area took the lead in responding. At the Pudong New Area Equity Investment Industry High Quality Development Conference held on March 1, the Pudong New Area Finance Bureau announced the launch of the “11 Initiatives for the High-Quality Development of the Pudong Equity Investment Industry” (“Eleven Initiatives” for short) to promote high-quality agglomeration and development of the Pudong equity investment industry in terms of optimizing the establishment of equity investment institutions, guiding early investment in small investment technology, cultivating long-term capital and patient capital, and unblocking exit channels for equity investment. At the same time, the conference launched the construction of equity investment clusters in the Pudong New Area to form various unique regional equity investment clusters such as Lujiazui, Zhangjiang, and Qiantan.