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China sees record high venture capital investment
(Xinhua)
Updated: 2005-02-15 14:20
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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