Wang Zhidong - the mastermind behind China's biggest Internet portal - has staged a comeback in the Internet sector after being removed from Sina.com in July. Mr Wang, founder and former chief executive of Sina.com, is among the mainland's first generation of Internet entrepreneurs. The rise to prominence of Sina.com created hopes for many, but Mr Wang's subsequent downfall, together with the bursting of the Internet bubble, has underlined the plight of the sector. He was forced out of Sina.com after a disagreement with other board members about management strategies. However, his whereabouts have continued to attract market attention. Yesterday it emerged Mr Wang had set up a new company - Beijing Dianji Technology - with paid-up capital of 500,000 yuan (about HK$468,600), according to a Beijing Youth Daily report. The company will launch Internet-related software products which are in their research and development stages. Dianji will be based in the capital's Zhongguancun district, known as China's Silicon Valley with its 9,000 or so high-technology start-ups, according to the report. Analysts expect Mr Wang will develop the software products and introduce venture capital to nurture his start-up. However, the unfavourable market sentiment in the information technology sector may mean he has a challenging job ahead to raise funds. The latest venture is the third time the 35-year-old entrepreneur has started a new information technology business. Originally, he was a software engineer before setting up his first company in 1993. In 1998, he merged with a Silicon Valley firm to form Sina.com. It became the biggest mainland portal and in March last year listed on the Nasdaq stock market, raising US$60 million. When asked whether the new start-up would post a threat to Sina.com, an official with the portal said it was a competitive market for Internet businesses. 'We continue to operate in a competitive market, instead of coming into conflict with any one company,' he said. Analysts say they have doubts whether the new company would be able to compete with the established listed company. Mr Wang told the Beijing Youth Daily that he was providing all the funding for the start-up at the moment. He said that inviting investors would deprive the company of its independence, but he did not rule out the possibility, when the time was right, of inviting other parties who shared the same approach.