China’s Aplus Fund invests big in American tech sector

World Today

Chinese foreign direct investment is flowing into the U.S. at a record pace. In the first six months of the year, the amount tripled compared to the previous year. One sector that’s booming is technology. A unique team from China is one of the latest to capitalize on that trend.

CCTV America’s Mark Niu reports the story.

China's Aplus fund invests big in American tech sector

Chinese foreign direct investment is flowing into the U.S. at a record pace. In the first six months of the year, the amount tripled compared to the previous year. One sector that’s booming is technology. A unique team from China is one of the latest to capitalize on that trend. CCTV America’s Mark Niu reports the story.

In Palo Alto, California, investors and city officials celebrate the launch of a $100 million fund to invest in innovation.

One of the men behind the Aplus Fund is investor Tiger Sheng, who’s helped more than 100 companies go public in China.

“The U.S. is the leader in high tech, while China has a very big market. The U.S. has a bigger capital market than China does. But in the start-up field, the gap is very small. Each has its own advantages. We are coming here hoping to bridge the start-up trends between the two countries, to bring more inter-activities,” Sheng said.

The other founding partner is Michael Yu, a teacher who built an education empire.

Yu’s New Oriental has helped prepare millions of Chinese for college entrance exams and expanded into an education technology company. It’s now listed on the New York Stock Exchange.

That’s why at another event at a hotel on Silicon Valley’s famous Sand Hill Road, the room is filled wall to wall with Chinese students, entrepreneurs and engineers who hang on Yu’s every word.

One of the hopes is that entrepreneurs who were once students of New Oriental and are now living in America could be potential candidates for the Aplus Fund. Aplus has also set up a startup incubator here too and is hoping to invest in everything from artificial intelligence to financial tech.


Michael Yu on Aplus Fund

For more on the Aplus investment fund, CCTV America’s Mark Niu spoke with Michael Yu, co-founder of New Oriental and the Aplus Fund.