China Survey 2014 - New directions and new challenges
Four words best describe the changes in China's private equity industry over the last decade:
perpetual, dramatic, disruptive, unpredictable. A decade ago, China was a private equity backwater, with a handful of firms and few success stories. Things really began to heat up in 2005 when China’s largest internet search company Baidu went public on NASDAQ. Its share price tripled on the opening day, creating paper fortunes for Google, which owned a minority stake, as well as several US venture capital firms that invested years earlier in Baidu.