Liu Yingli, Executive Vice Major of Shenzhen, met with Mr. Patrick McGovern, Founder and Chairman of IDG, yesterday. IDG is now the world’s leading technology media, research, event, and venture capital company. During the meeting, Mr. Patrick McGovern expressed that IDG has invested a total of 15 companies in Shenzhen, with an annual return rate of 80 percent, which is twice as much as that of other places. He sees well the future of Shenzhen.

According to Mr. Patrick McGovern, this is his 101st visit to China, while he came to Shenzhen during his first visit to China back in the 1970s. At present, he often tells his friends that if they really want to learn about China, they should come to Shenzhen because Shenzhen is the window to reflect the rapid growth of China. Mr. Patrick McGovern also expressed that Shenzhen is a city with great potential of investment. At present, there are US $1.4 billion under the management of IDGVC, which will be expanded to US $2 billion soon. He hoped that IDG’s investment in Shenzhen will reach US $150 million. He himself is very much interested in the investment in the media industry while Shenzhen Media Group is taking the leading role in digital media technology and both sides are discussing the possibilities of cooperation.

According to Liu Yingli, many enterprises in Shenzhen develop very fast. For example, there are 18 listed Shenzhen companies on the Shenzhen Small- and Medium-sized Enterprises Board, ranking the No.1 nationwide. In addition, there are many Shenzhen companies being listed at the stock markets in Hong Kong, London, NASDAQ and New York.

Hugo Shong, President of IDG China, and Wang Maoliang, President of Shenzhen Media Group, also escorted the meeting.