Depositors and fund managers in Greater China are currently making efforts to calm a startled market saying the implosion of the Silicon Valley Bank (SVB) in the US will only have a limited impact on the local market.
“Most China-based fund managers and portfolio companies do not bank with SVB,” said Chibo Tang, a managing partner at pan-Asian venture capital (VC) firm Gobi Partners. “The risks in China should be lower given the government’s role and backing of the local banking system.”
