Online Venture Capital Industry Emerges in ChinaThe Internet will become the tool of choice for developing China's venture capital industry which has been growing very fast these days.At a seminar covering issues of the newly-emerged online venture capital industry held on April 14, overseas investors and representatives from domestic investment groups agreed that the Internet will have profound influence on the traditional venture capital industry and technology innovation in China. The Internet has proved a very efficient medium for linking buyers and sellers, and also can be used in the process of obtaining start-up funding for companies. China's venture capital industry started in 1985, and the country's first website on venture capital opened in 1999. Yan Zhubing, president of the Beijing City Commercial Bank (BCCB), said at the seminar that venture capital has already stimulated China's technology innovation, and is acknowledged by most investors. Seminar participants agreed that the online venture capital industry has found a new base for expansion since the Internet is flourishing in China. The seminar was co-held by the BCCB, a management college of Canada, China's Young Entrepreneur Association and the China Venture Capital Association. |
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