On August 22nd, the Bay Area Cross-Border M&A Alliance officially launched its inaugural ceremony. Over 150 representatives from over 50 alliance members and related organizations, including domestic and international banks, insurance companies, asset management companies (AMCs), asset investment companies (AICs), venture capital firms, guarantee companies, and other financial institutions, as well as listed companies, industrial capital, and intermediary service agencies, attended the event. Currently, the global industrial chain is undergoing rapid restructuring, and cross-border M&A has become a crucial financial tool for companies to innovate their technologies, upgrade their industries, and allocate resources. As of August 2025, Shenzhen had publicly disclosed 128 completed M&A transactions for the first time, with a total transaction value of 55.696 billion yuan, ranking among the top cities nationwide. The successful implementation of cross-border share swaps, the nation's first such transactions, provides a replicable and scalable "Shenzhen experience" for industry innovation and development.