Record venture capital investments in 2004

Investors injected a record US$1.27bn venture capital investment in 2004, a 28% rise over a year ago, according to the state media, citing statistics issued by a non-governmental venture capital research institute. The money funded 253 new businesses in 2004, a 43% increase over 2003. The biggest beneficiary was the semiconductor industry, which took in US$424m. The payoff for 60 Chinese VC firms totaled US$802m in 2004.