China’s technology sector relies heavily on capital from SOEs, government funds

Quick Summary:

Investment guru Fang Fenglei said the situation could lead to a big problem’ in the industry because it goes against existing Chinese law.

Fang Fenglei, founder and chairman of Chinese private equity firm Hopu Investment Management, at a Caixin event held in Admiralty on May 31, 2024.

The current state-of-affairs is a “sharp contradiction” that could lead to “a big problem” in the industry because it goes against China’s Partnership Enterprise Law, enacted in 2007, that bars SOEs from becoming general partners of private businesses, he said.

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Article Details

Author / Journalist: Coco Feng

Category: Business

Markets: Hong KongChina

Topics: China’s Funds Investment Industry Private “a Sector Equity Fang Event Problem”

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 18:22:08 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 188 words

Reading Time: 2 minutes read

Sentences: 5 lines

Sentence Length: 38 words per sentence (average)

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Copyright Owner: © SCMP

News ID: 22457698

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