Domestic, foreign investors bullish on China, says founder of Sequoia Capital

Chinese and overseas investors have been looking keenly at the investment value of China with the country being the only major economy to post a positive growth in 2020, said a member of the 13th National Committee of the Chinese People's Political Consultative Conference on Sunday.

"China has a sound system for entrepreneurship, a huge market and a large amount of diligent people, which has impressed investors from all over the world," said Shen Nanpeng, founding and managing partner of Sequoia Capital China.

"Local (provincial) governments are also starting incubators and guiding funds. As they launch incentive policies to encourage high-tech enterprises, it makes young entrepreneurs much easier to start their own businesses today,"Shen said.

In 2019, China launched the science and technology innovation board, or the STAR board, which allows a group of outstanding science and technology companies to enter into the capital market and allows ordinary people to share the dividends of the nation's new economy development.

Shen suggested that more sound policies, including talents, intellectual property protection, and market access, should be introduced to the sector.

"In the new stage of China's economic development, more companies will grow from seedlings to towering trees,"he said.