Venture capitalists in HK, mainland optimistic over economic outlook: survey

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Last updated at: (Beijing Time) Friday, February 20, 2004

Venture capitalists in HK, mainland optimistic over economic outlook: survey

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A growing number of venture capitalists in Hong Kong and the Chinese mainland hold an optimistic economic outlook, anticipating an improvement in economy in the coming six months, according to a survey report released here Thursday.

The latest quarterly confidence survey released by Deloitte & Touche Corporate Finance Ltd (DTCFL) and the Deloitte Touche Tohmatsu showed that 83 percent of the respondents believed the economic performance of Hong Kong and the mainland would improve in the next six months, up 10 percent over the previous quarter.

And 83 percent of respondents are expected to allocate over one third of their new investments in the mainland in the coming six months.

Lawrence Chia, managing director of DTCFL said the increasing popularity of the mainland for investment showed that the mainland had become the hottest geographical location for new investments.

The survey was conducted in late December 2003 among venture capitalists in Hong Kong and the mainland with assets under management of up to one billion US dollars.

Source:Xinhua

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