Robust VC financing in Q3: KPMG

The Chinese mainland recorded robust venture capital (VC) activities in the third quarter, with artificial intelligence (AI) and automotive engineering the key areas of investment, according to a report released by international auditing firm KPMG, the Xinhua News Agency reported on Thursday.

Companies completed 95 VC deals, raising $10.2 billion, and the mainland accounted for half of the top 10 global VC financing deals, the report said. A number of mega-deals were reached, including a $2 billion fundraising by news aggregator Toutiao and a $1.6 billion deal for electric vehicle manufacturer BAIC BJEV.