First-quarter investment fell 5% from a year earlier to US$343.5 million, the first year-on-year decrease since the third quarter of 2004, according to a survey by Ernst & Young and Dow Jones.
The number of deals has dropped from 40 to 36, it said.
The new rules required companies to list in foreign markets within a year after they set up offshore entities, a difficult task for venture capitalists that tended to need three to five years to make a firm suitable for a listing, said Partridge. "
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