TMT attracting more investors, PwC says

China's telecommunications, media and technology industry's share of total private equity and venture capital investments has risen significantly, a PricewaterhouseCoopers report showed on Monday.

Although macroeconomic volatility led to a significant decline in both the volume and size of overall PE and VC deals in the first half of the year, investment showed a significant rise in the TMT sector from 2012, according to PwC's China MoneyTree Report 2013.

"An increasing number of traditional enterprises are beginning to leverage their competitive advantages and increase their market shares through the Internet," said Gao Jianbin, PwC China's technology industry leader.