Minister WAN Gang met with Peter Barris, Managing General Partner of New Enterprise Associates (NEA) on September 5, exchanging views on the development of foreign venture capital (FVC) in China.

WAN gave full recognition to NEA’s success over the decades. He briefly introduced the development of VC and hi-tech zones in China and expressed his hopes for the future cooperation between MOST and FVC investors and associations: 1) establishing information exchange mechanism; 2) launching joint training programs for Chinese VC personnel to nurture a batch of local senior managers; 3) getting more investment from FVC investors in areas concerning public interest, such as new energy, environment and health; 4) facilitating the establishment of RMB-dominated VC Fund in China by FVC investors and encouraging foreign funded hi-tech enterprises to go public in domestic capital market.