Yesterday, Liu Yingli, Executive Vice Mayor of Shenzhen Municipal Government, met with Mr. Patrick McGovern, Chairman of IDG, at the Civilian Center. Mr. McGovern who paid frequent visits to Shenzhen since 1980 indicated that the return rate of IDG’s investment in Shenzhen is quite high and he would continue expanding his investment in Shenzhen.

As the “Honorary Citizen of Shenzhen,” Mr. Patrick McGovern said this was his 101st visit to China, which is of great significant to him. He said the return rate of IDG’s investment in Shenzhen reached 80%, much higher than 40% in other places. At present, IDGVC has US $2 billion capital under management. Patrick McGovern’s visit this time is to discussing cooperation in new media fields with Shenzhen Media Group. He also expressed that IDG would introduce “E for All” which was held in Los Angeles to Shenzhen.

Liu Yingli highly appreciated the contributions of Mr. Patrick McGovern and IDG to Shenzhen. He said that the frequent visits of Mr. Patrick McGovern to Shenzhen not only witnessed the development of Shenzhen, but also made great contributions to the prosperity of Shenzhen. IDG has a great vision of investing in Shenzhen in the past decades. He also mentioned that there are 18 Shenzhen enterprises among the 160 listed enterprises on the Shenzhen Small- and Medium-sized Enterprise Board, ranking the No.1 nationwide. At present, Shenzhen’s enterprises have gone public at the stock markets in Hong Kong, the Republic of Korea, London, and New York. The venture capital will enjoy a bright future in Shenzhen, Liu added.