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  "documentTitle": "China M&A 2024 Review and Outlook",
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  "notes": "The chart uses a combination of stacked bars for fund size (US$ billion) and a line graph for fund volume (number of funds).",
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      "kind": "callout",
      "text": "These figures do not take into account available capital from alternative financial investors, e.g. corporate and SOE investment arms/captive-PEs, financial institutions, HNWI-platforms, government-backed funds and sovereign investors",
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      "text": "Stacked bar chart showing Renminbi vs Non-Renminbi fund size",
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      "kind": "metric",
      "text": "Renminbi Fund Size: 171.0",
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      "kind": "paragraph",
      "text": "PE fundraising swung sharply in favour of renminbi raises with dollar funds generally struggling to raise capital specifically for China investment affected by geo-political issues, economic weakness, and uncertainties around policies and regulations affecting certain sectors; a perceived benefit in investing from domestic capital pools was a clear factor in the market",
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      "kind": "source-note",
      "text": "Source: AVCJ and PwC analysis",
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      "kind": "title",
      "text": "PE/VC fund raising for China investment",
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