China's stock market has suffered a series of wild swings over the past few weeks after investors trading on borrowed money began to pull out. Government intervention served to stabilize prices slightly, though many Western investors said Beijing's heavy hand was cause for concern regarding the trustworthiness of the nation's financial markets.
However, at the Converge technology conference in Hong Kong, a different attitude toward investing in China was apparent.
Tech Investments
Speaking at the conference, JPMorgan Chase & Co. JPM's Vice Chairman, Asia Pacific, Jing Ulrich noted that investors were still showing a great deal of interest in the nation's tech startups. Neil Shen, founder and managing partner at Sequoia Capital China, echoed Ulrich's sentiment, saying that interest in the developing mobile market was on the rise.
Mobile Market
At the moment, the mobile market is growing rapidly in the United States, and tech startups are cropping up everywhere. Some have even compared China's rising tech industry to the United States' infamous Silicon Valley, home to technology heavyweights like Google Inc GOOG GOOGL and Facebook Inc FB.
More Than Apps
At the Converge conference, Shen noted that, although the mobile market has been of particular interest to investors and venture capitalists, he sees Internet finance as the sector with the most promising possibilities.
In his view, Chinese banks are unable to capitalize on growing demand for online finance options, so it will be up to smaller startups to fill that gap.
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