Now instead, VanceInfo is merging with another Chinese firm focused on the outsourcing market, Hisoft.

FORBES: Go Public, Take Private, Make A Deal: The Big Debate in China

The HiSoft-VanceInfo deal took 19 days (and many all-nighters) from negotiation to public announcement, which is very fast, says Lee.

FORBES: GGV Capital, With $625 Million In New Funds, Targets China, U.S. Growth

Last year, 61 venture-backed companies went public in the U.S. China claimed 22 of the total, with such fliers as Youku, HiSoft.

FORBES: Tick-tock Goes The Tech Clock as China, India Close Gap