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China sees record high venture capital investment
China saw a record high venture capital investment of 1.27 billion US dollars in 2004, according to statistics made by a non-governmental venture capital research institute. The investment, from both Chinese and overseas professional venture capital investment enterprises, is 28 percent higher than in 2003. Venture capital was invested in 253 new businesses in 2004, 43 percent more than in 2003. Among the industries drawing venture capital in 2004, the IC (integrated circuit) industry absorbed 424 million US dollars, ranking the first. Traditional industry is another hot spot for venture capital investment as 178 million US dollars have been invested in 30 businesses there. Among all the traditional industries, manufacture drew the most attention in 2004. China also saw improvement in the recouping of venture capital investment after profits, as 60 investment enterprises recouped 802 million US dollars in 2004. Stock ownership transfer is the major means of recouping. In 2004, some investment enterprises, such as Shanda Networking Co., recouped after making profits from their invested enterprises' being listed overseas. |
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