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BEIJING, July 28 (Xinhua) – China has become the second fastest growing market after the United States in venture capital investment, thanks to booming entrepreneurship, an industry report said.
The number of registered venture capital funds rose to 7,055 at the end of May, representing about 1.01 trillion yuan (US $ 146.8 billion), according to a report by the Asset Management Association of China.
The report shows that China has accounted for nearly a quarter of the total volume of venture capital in the world in the last three years.
Developing the venture capital market is connecting money to technology, contributing to China's economic transformation and modernization, he said.
According to the report, artificial intelligence, autonomous driving, intelligent transportation and biotechnology are favorite areas for venture capital investment, at home and abroad.
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