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GRIC founder launches China-US private equity venture15/04/2003. Source: AltAssets. 
 The founder and chairman of GRIC Communications Hong Chen has launched an advisory and private equity investment firm. The newly formed Hina Group will focus on cross-border M&A advisory services and private equity investments in communications and technology companies in China and the US.
Hina Group is raising two funds. The first fund will focus on investment opportunities emerging from the restructuring process of Chinese state owned enterprises. The second fund has been created to acquire or invest in publicly traded US telecom equipment and software companies with depressed stock market valuations but with the potential to tap emerging market opportunities in Asia.
‘With China's entry into the World Trade Organisation, a fast growing economy, and recent easing of M&A policy, China is set to experience a tremendous growth in M&A transactions and private equity investments,' said Hong Chen, ‘There is no better time than now to launch the Hina Group,' he added.
China is the world's number one destination for foreign direct investment. It received over $50bn last year. China's telecommunications market in particular has continued to flourish despite a global slump. China is the world's largest mobile phone market with over 200 million subscribers and a growth rate of five million subscribers per month.
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