Venture capital up over 70% in 2Q

Venture capital investment in China grew by 73.5% in the second quarter of the year, state media reported. A total of 159 companies received a total of US$1.2 billion in venture capital in the April-June period. Of the enterprises receiving investment, 42.1% were IT firms, accounting for 45.9% of the total investment. So-called traditional sectors made up 22% of the companies receiving investment and 19.9% of total investment.