Recently, Ren Xuefeng, secretary of CPC Guangzhou Committee, met with a number of visitors led by Hugo Shong, executive vice president of IDG and founding general partner of IDG Capital Partners. Chen Guo, Wang Dong and other officials from the People’s Government of Guangzhou attended the meeting.

 

Ren said that Guangzhou is now accelerating the combination of science and technology and finance, aiming to promote the establishment of a diversified, multi-level and multi-channel science and technology financing and investment systems and further optimize the innovation environment to provide support for in-depth implementation of the independent innovation strategy and construction of international science and technology innovation hub. He hoped that IDG can give full play to its advantages to expand its investment in Guangzhou’s science and technology development enterprises, such as those engaged in Internet and health and medical products and services.

 

Hugo Shong said that Guangzhou is famous for business development for thousand years and serves as a pioneer for reform and opening-up, with vigorous market, and it is also a science education and cultural center in South China, with good foundation and atmosphere for innovation and business launch. He revealed that, considering the centripetal forces and influence of the market of Guangzhou, IDG has decided to set up its south headquarters in Guangzhou as a new strategic support for its development.

 

IDG is the biggest IT publication, research and convention and exhibition information service supplier in the world, and also a world leading investment group. Its subordinate company, IDG Capital Partners, dedicates in the professional investment funds in the Chinese market. So far, it has made investment in more than 300 excellent companies, including Baidu, Sohu, Tencent, Ctrip, Kingdee and Qihoo 360. More than 70 companies with its investment have gone public or launched merger and acquisition projects. This makes the company an outstanding performer in the venture capital investment industry of China.