Despite the COVID-19 pandemic, China’s Shenzhen Capital claims to be bullish on investments.
During the first three quarters this year, “we’ve invested as much as 3.9 billion yuan ($602 million) in 90 projects,” Xudong Qiao, general manager of the research center at Shenzhen Capital Group, told DealStreetAsia.
“We’ve taken efforts to increase investments in information technology, biomedicine, new material and chemical engineering over the past three quarters. And we will keep it as it is for the last quarter this year,” said Qiao.
Since its inception in 1999, Shenzhen Capital has so far invested 55.6. billion yuan ($8.5 billion) across 1,167 projects.
While the Covid-19 crisis has changed China’s perspective on domestic supply chains, tightened US-China trade war is also calling for “self-dependent technology and economy,” said Qiao. “We will increase our investment in the Made in China 2025 strategy to transform China’s manufacturing industry.”
Edited excerpts of an interview with Qiao: