China's state investors put a spanner in drive for ‘patient capital’ to lead growth

China's state investors put a spanner in drive for ‘patient capital’ to lead growth

FILE PHOTO: A Chinese flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China February 8, 2024. REUTERS/Florence Lo/File Photo

While China is calling on “patient” capital to drive growth in favoured industries, the state investors who should have been a cornerstone of this effort are demanding quick returns on their venture capital (VC) and private equity (PE) investment, according to industry insiders.