China's VC, PE funds key to new tech

Zero2IPO chief says firms have more than $1.02 trillion under management

Chinese venture capital and private equity firms have assets totaling more than 7 trillion yuan ($1.02 trillion) under management this year, and the amount will exceed 10 trillion yuan in 2020, according to the chief of Zero2IPO Group.

There are been more than 10,000 venture capital and private equity firms in China with assets totaling more than 7 trillion yuan, said Ni Zhengdong, chairman of leading venture capital and private equity research company Zero2IPO.