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. (For more biz stories, please visit Industry Updates)
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