China continues robust VC financings in Q3: KPMG report

BY  | FROM  | 2017-10-12 14:40

China's mainland recorded robust venture capital (VC) activities in the third quarter, with artificial intelligence (AI) and automotive engineering the key areas of investment, according to a report released by international auditing firm KPMG.
Continuing the momentum from the second quarter, companies based on the Chinese mainland completed 95 VC deals, raising 10.2 billion U.S. dollars between July and September this year.
China's mainland accounted for half of the top 10 global VC financings, the report said.
A number of mega-deals were reached, including a 2-billion U.S. dollar fundraising by news aggregator Toutiao and a 1.6-billion U.S. dollar deal raised by electric vehicle manufacturer BAIC BJEV.
The report highlighted AI, robotics, and other tech-enabled next-generation sectors in China that are attracting significant investment, with the pace expected to continue.

    Related News

      Financial Times

    • Fed fears market misreading of guidance
    • The US Federal Reserve is keen to revamp its forward guidance about future interest rates but terrified of a market misunderstanding, according to the minutes of its September meeting

      Reuters

    • Asian shares rebound after Fed renews dovish credentials
    • Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dol...

      USA TODAY

    • Nigeria succeeds at containing Ebola
    • People here are shaking hands again, kissing, hugging, touching. These days, shops are open, people are working, and children are finally going back to 
      school
    Chinese Dictionary: