中國政府助力國內科技初創(chuàng)企業(yè)繁榮發(fā)展

The Chinese government has spent more than $1bn on domestic start-ups in the hope of becoming a world leader in artificial intelligence and other technologies, according to accountancy KPMG.

會計師事務所畢馬威(KPMG)的報告顯示，中國政府已向國內初創(chuàng)企業(yè)投資逾10億美元，寄望于中國成為人工智能等科技領域的全球領跑者。

The spending is part of the “Made in China 2025” plan, put in place in 2015, to improve China’s technology industry by spending hundreds of billions of dollars through venture capital funds guided by government policy.

這項支出是2015年實施的《中國制造2025》(Made in China 2025)計劃的一部分，該計劃將通過由政府政策引導的風投基金投入數(shù)千億美元來提升中國的科技產(chǎn)業(yè)。

In recent years private investors around the world have cooled on funding early-stage companies, particularly in the US.

近年來，世界各地的私人投資者對處于發(fā)展早期階段的企業(yè)、尤其是位于美國的此類企業(yè)的投資興趣已經(jīng)降溫。

In the second quarter of this year, investments in private tech companies in Asia topped those in the US for the first time, according to analysis by CB Insights and PwC, with $19.3bn pouring into Asian start-ups compared with $18.4bn in the US, the traditional home of venture capital.

根據(jù)CB Insights和普華永道(PwC)的分析，今年第二季度，亞洲私人科技企業(yè)所獲投資首次超過美國同類企業(yè)，亞洲初創(chuàng)企業(yè)獲得了193億美元投資，而風投傳統(tǒng)大本營美國所獲投資為184億美元。

In China, the government has invested more than $1bn to date in early-stage funding to help young start-ups go commercial, according to KPMG. Beijing has made it a priority to support strategic technology sectors such as AI and robotics.

畢馬威稱，在中國，政府迄今已向處于發(fā)展早期階段的企業(yè)投資逾10億美元，以幫助年輕的初創(chuàng)企業(yè)實現(xiàn)盈利。中央政府已將扶持人工智能和機器人等戰(zhàn)略科技領域當作重點任務。

“China needs to go to higher value-added manufacturing, and this is the government’s way of getting there,” said Jonas Short, Beijing head of Sun Hung Kai Financial.

新鴻基金融集團(Sun Hung Kai Financial)北京負責人喬納斯•肖特(Jonas Short)表示：“中國需要走向較高附加值制造業(yè)，而這就是政府實現(xiàn)該目標的途徑。”

As a result, local governments and state-owned companies have set up funds for investment in local tech companies. All cities have funds to distribute, ranging from $10m to $50m, according to KPMG.

其結果是，地方政府和國有企業(yè)建立起了用于投資當?shù)乜萍计髽I(yè)的基金。畢馬威稱，各個城市均建立起了此類基金，基金金額從1000萬到5000萬美元不等。

Those “government guidance funds” are set to eclipse private VC funds in China in size, according to data compiled by SHKF. As of September 2016, government guidance funds had a total fundraising target of Rmb3.3tn ($500bn), compared with Rmb2.2tn raised in 2016 by private funds.

新鴻基金融集團匯編的數(shù)據(jù)顯示，這些“政府引導型基金”的規(guī)模將令中國的私人風投基金相形見絀。截至2016年9月，政府引導型基金的籌資總目標達3.3萬億元人民幣(合5000億美元)，而私人基金在2016年籌集到的資金為2.2萬億元人民幣。

“The aim is to provide support for strategic industries rather than control the firms,” Mr Short added.

肖特說：“其目標是向戰(zhàn)略行業(yè)提供扶持，而不是控制這些企業(yè)。”

One of the largest guidance funds is owned by the provincial government of Hubei, which made a Rmb40bn injection into the Hubei Yangtze River Belt Industrial Fund — a fund of funds including other private investors that aims to reach Rmb200bn in size.

規(guī)模最大的政府引導型基金之一為湖北省政府所有。該省政府已向湖北省長江經(jīng)濟帶產(chǎn)業(yè)基金(Hubei Yangtze River Belt Industrial Fund)注資400億元人民幣。該產(chǎn)業(yè)基金采用母基金形式，還包含其他私人投資者，目標是規(guī)模達到2000億元人民幣。

As of the end of May, the Jiangsu Provincial Government Investment Fund had raised Rmb80bn, of which Rmb10.3bn was given by the government.

截至5月底，江蘇省政府投資基金(iangsu Provincial Government Investment Fund)已籌得800億元人民幣，其中江蘇省政府出資103億元人民幣。

Chinese government support “has significantly sped up the development of early-stage tech start-ups in China”, said Philip Ng, partner at KPMG China. “Government-backed incentives, including tax incentives, grants, low- or no-interest loans and rental subsidies are offered to early-stage companies,” Mr Ng added.

畢馬威中國的合伙人吳劍林(Philip Ng)表示，中國政府的扶持“大大加快了中國處于早期階段的科技初創(chuàng)企業(yè)的發(fā)展”。他還表示：“處于發(fā)展早期階段的企業(yè)正在獲得由政府資助的各種激勵，包括稅收優(yōu)惠、撥款、低息或無息貸款及租金補貼。”

The results can already be seen: the country is experiencing a boom in private fundraising by “unicorns” — tech companies valued at more than $1bn.

其結果已然可見：中國正在經(jīng)歷一場“獨角獸”(估值逾10億美元的科技企業(yè))私募熱潮。

China attracted $10.2bn of investment in the third quarter, according to KPMG, compared to a global total of $39.4bn. The mainland accounted for half of the top 10 global VC financings in the quarter, including the $2bn raised by Chinese news aggregator Toutiao.

畢馬威稱，中國在第三季度吸引了102億美元投資，而全球的總額為394億美元。在本季度全球風投融資前10強中，中國內地占了一半，其中包括融得20億美元的中國新聞聚合應用今日頭條(Toutiao)。