Venture capital is the result of combination of technology and capital, based on the economy of knowledge.

风险投资是在知识经济条件下，以高度知识专用性为特征的技术与风险资本结合的产物。

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In 1996, he founded Aiter Information Technology Ltd., the first Internet company based on venture capital. Later, this company was renamed Sohu. com Inc. and listed on NASDAQ, the US, in 2000.

1996年创建了爱特信公司，成为中国第一家以风险投资建立的互联网公司，后更名为搜狐公司，并于2000年在美国纳斯达克上市。

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There will be no political interference, he insists, in its investments, which will be made by a private-sector manager (due to be appointed in December) in specialist venture-capital funds backing technology-based businesses.

ECONOMIST: The fund may be new but the idea is surprisingly old