Intel Says It Will Increase China Investment Despite Hurdles
4/20/00 4:13:00 AM
Source: Bloomberg News
URL: cnetinvestor.com
Beijing, April 20 (Bloomberg) -- Intel Corp., the world's largest computer chipmaker, said it plans to increase its investment in China despite regulatory hurdles and uncertainty about foreign funding of Internet ventures.
Intel Capital, the company's venture capital arm, invested an undisclosed amount in 12 projects in China last year, out of about 80 investments abroad. That's up from 'virtually' no investments in China in 1998, and is likely to increase, said Leslie Vadasz, the president of Intel Capital.
'Basically we have ramped up our efforts very rapidly, and we'll continue to ramp up our efforts as fast as we can,' he said.
In future, investments outside the U.S. may account for half of Intel Capital's total investments, up from a third last year.
Intel has made investments in Chinese Internet companies, such as AsiaInfo Holdings Inc., the country's biggest builder of Internet networks, and Sohu.com Inc., which runs one of the country's most popular portals.
That has now become a legal gray area, as China appears not to allow foreign investment in the Internet ahead of its entry into the World Trade Organization. As a result, Intel is in a wait- and-see situation, Ladasz said.
'We try to respect the laws of the land, and sometimes it gets a little confusing, because a certain set of rules you think you are working by appear to be changing,' he said. |
