China becomes 2nd largest venture capital destination after the U.S

 Deputy Head of the NDRC Lin Nianxiu said at a
news briefing that VC and angel investment are
growing rapidly, claiming there are over 3,000
funds managing more than 1 trillion Yuan (around
150 billion dollars).
``Chinese start-ups have become a new favourite
for investors.
``The number of new firms has continued to
increase due to easier market access.
``About 1 million companies were registered in
Q1, up 25.9 per cent from a year ago, while
emerging and modern tertiary sectors led the
trend,’’ Lin said.
Report says the service sector grows 7.6 per cent
year on year in Q1, outpacing a 6.7-per cent GDP
increase.