Venture Capital Investors Favor BeijingA current survey shows that the Chinese capital Beijing is becoming a hot spot for international venture capital, attracting about US$700 million worth of venture capital in the coming couple of years.The research group on "Attracting International Entrepreneur Investment and Development of High-tech Industry" under the municipal government recently released the results in a book titled Blue Paper on Beijing, which is published by Social Sciences Documentation Publishing House. The research paper said a group of venture capital funds, including Intel VC, SoftBank and IDG VC, garnered at least US$2 billion which is prepared to be invested into China in coming years. Experts estimated that most of the 700 million dollars which is headed to Beijing and will be poured into the Zhongguancun high-tech park in the north part of Beijing. Statistics show that in recent years, Zhongguancun drew on 80 percent of the total venture capital from outside. Beijing is now using US$500 million worth of international funds. However, the research group warned that the incomplete mechanism on protecting venture capital and limits on market access could impede further development in the field in Beijing. |
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