中国风险投资从整体上在经历了起始期、发展期、冷静期,现在又回到迅速发展高潮。2003年中国风险投资额达到9.92亿美元,比上年增长了137%,2004年风险投资额达到12.69亿美元,比上年增长了27.92%。但风险投资在中国蓬勃开展之际,中国本土风险投资机构及其投资额却呈现萎缩,风险投 As a whole, China’s venture capital has undergone a start-up period, a development period and a cooling-off period, and now it has returned to the climax of rapid growth. In 2003, China’s venture capital reached 992 million U.S. dollars, an increase of 137% over the previous year. In 2004, venture capital reached 1,269 million U.S. dollars, up 27.92 percent over the previous year. However, when venture capital is booming in China, the number of Chinese venture capital firms and their investment has shrunk. Venture capital