China’s venture capital market attracted US$585 million in the first quarter of the year, up 12.9% on the year before, the China Securities Journal reported, citing figures from financial consulting firm China Venture. Investments were made mainly in developed regions like Shanghai and Beijing and Jiangsu, Zhejiang and Guangdong provinces. During the first quarter, there were 14 investments in internet businesses, down 50% year-on-year, worth a total of US$703.1 million, down 40% year-on-year. There were 57 separate investments involving foreign capital, accounting for 78.1% of the total capital. Venture capital investment in China rose 5% year-on-year to a six-year high of US$2.49 billion in 2007.