YOUNG, brave and free-spirited bosses are rejecting the 9-5 grind and starting their own businesses, doing what they like to do in a tough job market. Their motto: Go for it. Tan Weiyun talks to a new breed of entrepreneur.

While most Chinese young people make a beeline for a secure, well-paying job with career prospects, some are taking risks and boldly going where they can be their own boss and do satisfying work. Whether a cafe owner, pig's feet seller, or online store owner, these young bosses say just do it.

Venture capital investment in Chinese mainland companies declined significantly in the first six months, the latest sign that the world's second-largest economy is slowing.

According to Dow Jones VentureSource, which tracks venture-backed companies, the value of venture capital investments in Chinese companies was 1.9 billion US dollars in the six months to June, down 43 percent from the same period last year.

ZHANGJIANG High-Tech Park plans to invest 100 billion yuan (US$15.7 billion) in the creative zone development over the next five years, Shanghai officials disclosed yesterday.

The total investment in the zone over the past two decades amounted to only 138.9 billion yuan. The park celebrates its 20th anniversary today. The park generated 188.9 billion yuan in revenue last year, 54 times more than in 1999. It initially was 25 square kilometers but is now 75.9 square kilometers.

Israel's cabinet on Sunday moved to bolster bilateral trade ties with China by voting to support joint industrial research and development (R&D) projects between the two countries.

The Chief Scientist's Office at the Industry, Trade and Labor Ministry is going to oversee the agreement, which will join 45 other bilateral accords aimed at encouraging cooperation between Israeli and international companies.

Israeli Prime Minister Benjamin Netanyahu lavished praise on the agreement, telling ministers at the weekly cabinet meeting that Israel and China "together are a winning combination because we are two nations with magnificent traditions who also adopt modernism."

SHANGHAI International Group is to set up a venture capital firm to offer finance to small and medium enterprises as part of the city's strategy to support the underfinanced sector.

The investment arm of the Shanghai city government will invest 1 billion yuan (US$156 million), including 500 million yuan of city government revenue, in the new firm, the Shanghai Financial Services Office said yesterday.

THE number of merger and acquisition deals in China grew for a second consecutive month in August by 6.4 percent from July to reach 282, according to a report by China Venture.

But the total investment of the deals dropped 28.83 percent from a month ago to 73.3 billion yuan (US$11.47 billion), the research firm said in a report yesterday.

Countries 'more receptive' to investment amid global downturn

The global debt crisis presents opportunities for Chinese companies planning to invest overseas amid enticing prospects for outbound direct investment (ODI), the Ministry of Commerce said on Sept 6.

China remains an attractive destination for foreign direct investment (FDI) despite a decline last month, experts said.

FDI fell to $8.3 billion, with year-on-year growth of 19.8 percent, the Ministry of Commerce said on Tuesday.

VENTURE capital investment in China jumped nearly 59 percent in July despite falling proceeds from new listings because of accounting anomolies.

A total of US$895 million was invested in 36 announced VC projects last month, a rise of 58.8 percent from US$563 million in June, financial analysis firm China Venture said in a report yesterday.

SHANDA Entertainment will invest an additional 100 million yuan (US$15.51 million) this year on cloud computing services for start-up firms and research organizations, the Nasdaq-listed firm said yesterday in Shanghai.

It followed Alibaba Group's recent announcement that it will kick off cloud computing services online and for mobile phones.

In recent weeks, investor fever for the typical Chinese growth story has quickly turned into doubt and panic, with many starting to shun the sector that used to provide such high rewards.

The Nasdaq China Index, which tracks major Chinese stocks trading in the US high-tech stock market, has dropped nearly 20 percent in fewer than 40 days, from $243.45 on May 2 to $196.83 on June 10. Moreover, the price of Chinese stocks, including Sino-Forest Corp and Yongye International Inc, has plunged more than 50 percent.

China Investment Corporation (CIC), the nation's sovereign wealth fund, is planning to further expand its overseas investment in developing economies, said Lou Jiwei, the company's chairman.

Lou said that the rate of return from CIC's investments in 2010 was almost the same as the 11.7 percent figure posted in 2009, and higher than the average rate of China's other big investment companies. However, Lou declined to reveal the exact figure until the publication of CIC's annual report, although the release date has yet to be publicly announced.

Lou said that the company's board of directors intends to raise more funds and accelerate the pace of expansion in overseas investment, especially in developing markets.

The company increased the number of investments in developing economies in its global investment portfolio in 2010. The rate of return from CIC's investments in developing economies, including Brazil and Indonesia, exceeded that earned in the developed economies last year, according to the chairman.

China came in first and Germany second in clean-energy investment last year, while the United States fell one spot to third place, Reuters reported on Tuesday, citing a Pew report.

US investment in clean energy totaled $34 billion last year, the report "Who's Winning the Clean Energy Race" by Pew Charitable Trusts, an independent, nonprofit group. That was up 51 percent from the previous year but below the $54.4 billion invested by China and the $41.2 billion invested by Germany.

Funds set to ease pressure created by high foreign exchange reserves.

The Chinese government will inject more capital into China Investment Corp (CIC), the country's $300 billion sovereign wealth fund, to ease pressures resulting from the nation's high foreign exchange reserves, said Wang Jianxi, executive vice-president and chief risk officer of CIC, on Friday.

Wang said the capital injection plan has been approved by the central government, but the central bank and the Ministry of Finance have yet to reach a consensus on how the plan will be carried out.

"They may inject the capital directly or through bond issuance, but it hasn't been decided yet," Wang said on the sidelines of a meeting of the Chinese People's Political Consultative Conference, the country's top advisory body.