BIZCHINA / Center
VC eyes high-tech industries
(Xinhua)
Updated: 2006-10-16 09:45
More foreign venture capital will pour into China's promising high and
new technology industries in the coming five to ten years, said SoftBank
Corporation.
Dr. Alan Song, vice president of SoftBank China Venture Capital, said
that foreign capital will enter new emerging information technology
industries covering 3G products and services, digital TV, IP TV, and
broadband value-added services.
Mr. Song, while attending the China Informatization Forum held in east
scenic city of Hangzhou on Sunday, said that in the next five to ten
years, China's economy will continue to grow at an annual rate of 7 to 12
percent, making it a hot investment destination for foreign venture
capital.
He said that factors including more open government policies, experienced
entrepreneurs and growing purchasing power also contribute to the more
overseas venture capital pouring into China's market.
"Venture capital will also tap vast business opportunities in industries
covering software manufacturing, medical device, energy, new materials
and auto electronics," Song said.
SoftBank, founded in Japan in 1981, has invested in new emerging
companies such as Yahoo, Alibaba, UT Starcom, and Focus Media.
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