Shenzhen City in south China's Guangdong Province is determined to become one of the country's most important centers for venture investment within five years.
Sources from the Shenzhen Venture Investment Business Federation said the city is now home to 122 professional venture investment organizations, of which, 20 are from overseas.
According to the sources, the venture investment organizations control 10 billion yuan (about US$1.2 billion)of capital, with 396 certified professionals as employees.
Statistics show that venture investment organizations have invested 2.8 billion yuan (about US$337 million)in financing projects in Shenzhen, also one of China's five special economic zones.
Shenzhen, which used to be a small town facing Hong Kong across a local river,has now developed into a boomtown through efforts over the past two decades.
The city is the venue for the China Hi-Tech Fair held each October.
(Eastday.com 06/07/2001)
