0b46f21fbe096b6363b5dbae0d338744eaf8aca4.jpg (Photo : Baidu)
The country’s telecommunication, media and technology (TMT) industry has seen tremendous growth this year, registering total investment of USD1.07bn from January to October, a recent survey showed.
The survey, conducted by one of the big four global auditors PricewaterhouseCoopers (PwC), showed that the industry has attracted 134 private equity and venture capital investments so far this year as traditional enterprises start leveraging their competitive advantages by increasing their market by investing in China’s TMT industry.
According to the report, in the first quarter of the year, there were 134 PE and VC transactions in the TMT sector, accounting for 52 percent of the total volume. The total investment amount hit $1.07 billion, representing 33 percent of the total PE and VC deal value.
The PwC report, dubbed the 2013 China MoneyTree Report, showed that the total investment of about USD1.07 billion in the country’s TMT industry represented 33% of the total PE and VC deals for the year.
PwC China's technology industry leader Gao Jianbin said the substantial investment in China’s TMT industry has resulted to the consolidation in the industry as well as triggered fierce competition between rivals, among others.
The report also noted that Internet performed significantly better than others among all the industries covered under the TMT sector. PwC said the Internet saw 67 investment deals this year, or 50% of the overall deals in the sector.
The Internet deal value totaled USD888 million and the PwC report suggested that the trend will continue by the end of this year as e-commerce in China is expected to further grow at a tremendous level in the next few months.
While the Internet continues to take the lead in the TMT industry, the survey showed that the sector of telecommunications and mobile Internet will soon pickup as more people now use their mobile phones to conduct transactions.
