China’s ‘two sessions’: billionaire tech investor Neil Shen sees drive to ‘Buy China’ at home and abroad
- Shen tells state TV Chinese investment and policies make it easier for young people to start businesses
- But work still had to be done on intellectual property and market access, he said
Shen’s firm also backed Meituan Dianping, Shenzhen-based drone maker DJI and ride-hailing platform Didi Chuxing.
Shen’s comments were made at a time when the marriage of US capital and Chinese tech remain strong despite growing strategic hostilities between Beijing and Washington.
“Local [Chinese] governments are launching incubating and guiding funds, along with supportive policies to encourage hi-tech start-ups, and all these have made it easier for young people to start businesses,” said Shen, whose personal net worth is estimated at US$3.6 billion.
“We will keep our long commitment to this promising land to support innovation and entrepreneurship.”
“We believe that more start-ups will grow from young plants into big trees in the new development stage of China, and we will grow with them as the entrepreneur behind entrepreneurs,” Shen said.