Skip to content
tner of Qiming Venture Partners, Xu Xin, founding partner of Capital Today, and Tong Sh
ihao, managing partner of GGV Capital. They ranked fifth, sixth and seventh respectively.
The list was ranked by investors’ portfolio companies that have gone public or been acquired for at least $200 million over
the past five years, or that have raised additional funding at a valuation of $400 million or more.
“A record number of international investors, pa
rticularly from China, and women investors are gradually changing the image of the Sil
icon Valley venture capitalist,” said Alex Konrad, associate editor at Forbes, in an editor’s pick.
He noted that after years of Midas dominance, the reign of Facebook and Twitt
er is over, as those deals and their well-known investors make way for a new generation.
“The increasing presence of Chinese investors in the Midas List is a solid reflection of the scal
e and vigor of the Chinese economy,” said Zhou Xuan, director of and a professor with the priva
te investment funds institute of the University of International Business and Economics in Beijing.
ncy and reliability – a clear understanding of how the company can ensure sustain
able investments over a long period of time – Merck has initiated more
innovation hubs in China, Beckm
ann said. There will be more to come, in recognition of the innovative
environment here that is really moving in a positive direction.
“We think it’s great that Hainan has this free trade zone that has enabled innovative m
edicines to get a fast channel into China,” Gabor said, adding that Merck is trying
to work with Boao’s Su
per Hospital in therapy areas like oncology and infertility, as well as
chronic care disease.
Beckmann also took the Greater Bay Area as an example, describing it as a
very important region, specifically for the electronics industry.
“We have very important partners and customers in that regi
on, so it was quite natural for us to move with our innovation hub concept into the Greater Bay Area,” h
e said, adding that the company is building its digital initiatives with local
partners, such as Alibaba Health and Tencent.
Information consumption has become a new engine for China’s economy, playing a vital role in d
riving domestic demand, creating jobs and pushing forward industrial upgrades, People’s Daily reported.
Last year, China’s information consumption rose 11 percent year-on-year to
5 trillion yuan ($745.39 billion), accounting for 6 percent of the GDP, according to the Internet Society of China.
To further boost information consumption, the Ministry of Industry and Inform
ation Technology and the National Development and Reform Commission unveiled an action plan in August.
According to the plan, by 2020, China’s spending on information consum
ption is expected to be 6 trillion yuan, with average annual growth of more than 11 perce
nt. Information technology is estimated to drive 15 trillion yuan in related consumption.
grower in Laixi of Qingdao, East China’s Shandong province, has been able to grow peach trees into the shapes of tab
les and chairs. The price of one of his peach branch chairs has now reached more than 20,000 yuan ($2,987).
In a farm in Jimo district of Qingdao, Zhang, 65, says that he plans to grow the tables and chairs at a ratio of four to one: four chairs to each table.
Zhang said that he started planting peach trees 15 years ago. He used to be a carpen
ter and often made wooden furniture, so, when planting peach trees, he liked to collect the roots of va
rious materials and use them for making ornaments, tables, chairs, figures, flowers, birds, and other root carvings.
As the raw materials became scarce however, Zhang had another idea, asking, “Can I p
lant tables and chairs myself?” Although his family were initially skeptical, Zhang persisted.