Venture capital investment leaps
By Chen Li |
August 4, 2011, Thursday
|
Print Edition
Print Edition
VENTURE capital investment in China jumped nearly 59 percent in July despite falling proceeds from new listings because of accounting anomolies.
A total of US$895 million was invested in 36 announced VC projects last month, a rise of 58.8 percent from US$563 million in June, financial analysis firm China Venture said in a report yesterday.
However, the country's private-equity market experienced a sharp drop in investment, the firm said.
Investment in PE projects in July plunged nearly 70 percent from a month previously to more than US$1.21 billion, compared with nearly US$4.05 billion in June.
June's PE investment was largely fueled by the National Council Social Security Fund's 10 billion yuan (US$1.55 billion) investment in the People's Insurance Co.
However, last month's PE investment volume was the lowest since August last year.
Chinese firms' initial public offerings dived nearly 86 percent in July compared with a month earlier, with fewer Chinese firms willing to go public while investors continue to question the credibility of Chinese offerings.
So far this year 16 Chinese stocks have been delisted from Nasdaq and the New York Stock Exchange, while several others have had trading suspended on suspicion of murky accounting practices.
A total of US$895 million was invested in 36 announced VC projects last month, a rise of 58.8 percent from US$563 million in June, financial analysis firm China Venture said in a report yesterday.
However, the country's private-equity market experienced a sharp drop in investment, the firm said.
Investment in PE projects in July plunged nearly 70 percent from a month previously to more than US$1.21 billion, compared with nearly US$4.05 billion in June.
June's PE investment was largely fueled by the National Council Social Security Fund's 10 billion yuan (US$1.55 billion) investment in the People's Insurance Co.
However, last month's PE investment volume was the lowest since August last year.
Chinese firms' initial public offerings dived nearly 86 percent in July compared with a month earlier, with fewer Chinese firms willing to go public while investors continue to question the credibility of Chinese offerings.
So far this year 16 Chinese stocks have been delisted from Nasdaq and the New York Stock Exchange, while several others have had trading suspended on suspicion of murky accounting practices.
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