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Venture Capitalists Show Enthusiasm For Chinese Market

by Carla Johnson, Investors Offshore.com

20 December 2004


Venture capitalists entered the Chinese market in increasing numbers during 2004 with unprecedented levels of investment encouraged by several successful exits from invested projects, a Beijing conference heard last week.

"This year is a turning point for the venture capital industry," Zhang Jingan, secretary general of the Ministry of Science and Technology, told the Zero2ipo China Venture Capital Forum last week.

Zhang explained that in addition to the successful initial public offerings of Shanghai-based Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC) and the country's number one online game developer Shanda Interactive Entertainment, many venture capital firms were encouraged by successful exits or good returns from invested projects and began to spend more money.

"If we do not include the US$600 million VC investment into SMIC last year, we can see this year's investment more than doubled and is a very encouraging figure," observed Zhang.

According to Zero2ipo, a Beijing-based professional venture capital industry research company, VC companies invested US$1.27 billion in China in 2004, compared with last year's US$992 million.

A comprehensive report in our Intelligence Report series examining tax efficient strategies for venture capital is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report5.asp

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