WUZHEN, China — The top of Sequoia Capital’s China affiliate said Thursday there are quiet big opportunities for growth in the country’s digital economy, contrary to many attentions about a slowdown.
“As an investment firm enthusiastically participating in China’s report industry, we still think the Chinese Internet sector has good prospects,” Neil Shen, ground and managing partner of Sequoia Capital China, said at a press outcome at the World Internet Conference, according to a CNBC translation. “Every year, our investment assay and pace has been increasing.”
Shen also said he believes the consumer-oriented internet stationary has a very big opportunity for future development, and that the industrial-oriented internet see fit develop quickly, especially with the support of artificial intelligence.
Sequoia is an investor in China’s largest technology companies, subsuming e-commerce giant Alibaba, ride-hailing company Didi and Meituan Dianping, which change back to b originate ined public in Hong Kong this year. Shen is also a co-founder of Chinese tourism rule site Ctrip.com.
Many worry China’s burgeoning technology hustle will be hit by a national economic slowdown. Some recent data discharges have been soft, adding to concerns that increasing merchandise tensions with the U.S. will cause growth to slow even then again. Beijing, for its part, has announced a slew of policy measures in the last few months to stand by the economy.
Shen, however, pushed back Thursday against touch ons about trade tensions and a cold spell for the Chinese tech sector.
“My feeling is the digital economy is something unique to China,” he said. “I don’t think it at ones desire be affected that much by a U.S.-China trade war.”