What is your opinion and understanding of China's venture capital industry?

In terms of investment areas, in the 1990s, almost all of the companies invested by VCs in China were Internet companies, such as the now-familiar Sina, Sohu, Alibaba, and other Internet companies that were favored by VCs during this period. But with the past pile of investment in the Internet industry is different, the current new wave of VC investment is keen on traditional projects, education and training, catering chain, clean technology, automotive aftermarket are investment hotspots. Traditional industries, once the formation of a chain of brands, it is easy to form a whole effect, and such as catering chains, hotel chains and other industries in China's market prospects, belonging to the growth of a very good and very stable returns, by the venture capitalists favor is inevitable.

With China's sustained and steady economic growth and the gradual improvement of the capital market, China's capital market has shown strong growth in recent years, and the high rate of return on investment in the Chinese market has made China a strategic location for global capital.

While there is still a gap between the overall size of China's industrial investment market and that of developed countries, the returns on investment in China are world-class. In addition, venture capital should be aligned with macroeconomic trends. China's urbanization process is expected to grow the country's urban population to 920 million by 2025. The share of urban GDP in national GDP will also grow to 95%. The urban consumer goods market, medical equipment, environment and energy will be the focus of venture capital in the future.

The next ten years are considered to be the "golden decade" for China's venture capital to develop rapidly from "weak to strong", and it is necessary to look at the development opportunities facing China's venture capital business with a long-term vision and a global perspective. It is expected that in the next ten years, China will become a major venture capital country second only to the United States and Europe. Whether it is from the macroeconomic development momentum, the need for national strategy of independent innovation, the development prospects of the capital market, or from the point of view of the development of the venture capital industry itself, it is entirely possible to realize this desire.