DURING THE RECENTLY CONCLUDED CHINA INTERNATIONAL FAIR FOR TRADE IN SERVICES, KATE AMBROSE, CEO OF THE GLOBAL EMERGING MARKET EQUITY INVESTMENT FUND ASSOCIATION, MADE A VIDEO SPEECH AT THE 2020 GLOBAL PE FORUM AND ACCEPTED A WRITTEN INTERVIEW WITH ECONOMIC REFERENCE NEWS REPORTERS.THE GLOBAL EMERGING MARKET EQUITY INVESTMENT FUND ASSOCIATION IS A GLOBAL ASSOCIATION FOCUSED ON THE EMERGING MARKET PRIVATE EQUITY INVESTMENT INDUSTRY. ITS MEMBERS CONSIST OF OVER 300 INSTITUTIONS FROM 130 COUNTRIES, MANAGING ASSETS TOTALING OVER $5 TRILLION.KATE AMBROSE TOLD REPORTERS THAT IN 2010, THE TOTAL AMOUNT OF PRIVATE EQUITY INVESTMENT IN EMERGING MARKETS WAS ONLY $30 BILLION, BUT BY 2019, THIS NUMBER HAD INCREASED TO $113 BILLION. THE GROWTH IN INVESTMENT CAN LARGELY BE ATTRIBUTED TO CHINA'S TRANSACTION GROWTH IN THE TECHNOLOGY SECTOR.SHE SAID THAT IN RECENT YEARS, CHINA HAS ATTRACTED THE MAJORITY OF INTERNATIONAL PRIVATE EQUITY INVESTMENT FUNDS TO EMERGING MARKETS, ACCOUNTING FOR 41% OF TOTAL INVESTMENT IN 2019. AT THE SAME TIME, CHINA'S PRIVATE EQUITY INVESTMENT HAS ALSO ACHIEVED SIGNIFICANT GROWTH IN THE PAST 20 YEARS. FROM 2015 TO 2019, THE TOTAL PE/VC CAPITAL INVESTMENT IN CHINA REACHED 290 BILLION US DOLLARS, AND THE PROPORTION OF PRIVATE EQUITY INVESTMENT ACTIVITIES IN MARKETS OUTSIDE THE UNITED STATES AND WESTERN EUROPE REACHED 51%. VENTURE CAPITAL HAS DRIVEN THIS CHANGE. SHE CITED ALIBABA, JD.COM, AND TENCENT AS THE MAIN DRIVING FORCES BEHIND THIS INVESTMENT ECOSYSTEM. DURING THIS PROCESS, INVESTORS CONTRIBUTE TO THE CONTINUOUS GROWTH OF SUCCESSFUL COMPANY PROJECTS THROUGH COMPETITION AND COOPERATION BOTH DOMESTICALLY AND INTERNATIONALLY. CHINESE VENTURE CAPITALISTS ARE GRADUALLY EXPANDING INTO SOUTHEAST ASIAN AND AFRICAN MARKETS, AND HAVE COMPLETED SOME IMPORTANT JOINT INVESTMENTS WITH INTERNATIONAL AND LOCAL VENTURE CAPITAL IN THESE MARKETS.IN KATE AMBROSE'S VIEW, THE SIZE OF CHINA'S DOMESTIC MARKET AND THE STABILITY OF THE RMB EXCHANGE RATE HAVE PROTECTED CHINA FROM SOME CHALLENGES FACED BY OTHER COUNTRIES AND REGIONS, ESPECIALLY THE SIGNIFICANT IMPACT OF EXCHANGE RATE FLUCTUATIONS ON INVESTMENT VOLUME AND RETURNS.SHE TOLD REPORTERS THAT THE PENETRATION RATE OF PRIVATE EQUITY IN ASIA, AFRICA, LATIN AMERICA, AND THE MIDDLE EAST IS STILL RELATIVELY LOW, BUT IT HAS BEGUN TO CHANGE. NOWADAYS, MANY INTERNATIONAL INVESTORS ARE ALSO PAYING ATTENTION TO OPPORTUNITIES IN SOUTHEAST ASIA, AS ITS ECONOMIC GROWTH RATE IS FASTER THAN MANY OTHER REGIONS, AND THE ADOPTION OF DIGITAL POPULATION AND TECHNOLOGY IS CONSTANTLY INCREASING. IN RECENT YEARS, SUCCESSFUL TECHNOLOGY STARTUPS IN LATIN AMERICA HAVE ALSO ATTRACTED PEOPLE'S ATTENTION.WHEN TALKING ABOUT THE COVID-19 THIS YEAR, KATE AMBROSE SAID THAT AFTER THE EPIDEMIC, MANY TOPICS HAVE BECOME THE TOPICS THAT CHINA AND THE WORLD NEED TO FACE IN THE FIELD OF EQUITY INVESTMENT, SUCH AS THE ATTENTION TO ENVIRONMENTAL SUSTAINABILITY AND OTHER TOPICS. AT THE SAME TIME, TECHNOLOGY COMPANIES IN THE GLOBAL MARKET ARE ALSO VERY ATTRACTIVE, PARTLY BECAUSE THEY CAN ACHIEVE LEAPS OR IMPLEMENT NEW SOLUTIONS AND INNOVATIONS FASTER THAN COMPANIES WITH LARGE TRADITIONAL INFRASTRUCTURE OR BUSINESS MODELS.KATE AMBROSE TOLD REPORTERS THAT IN ADDITION TO SPECIFIC PRIVATE EQUITY REGULATIONS, INTERNATIONAL INVESTORS BELIEVE THAT THERE ARE THREE BASIC PRINCIPLES THAT ARE MOST IMPORTANT FOR ATTRACTING CAPITAL: FIRST, A POLICY FRAMEWORK THAT IS OPEN TO FOREIGN INVESTMENT, ALLOWING PRIVATE CAPITAL FIRMS TO INVEST ACROSS A RANGE OF SECTORS; SECONDLY, MARKET TRANSPARENCY AND INFORMATION ACQUISITION; THIRDLY, THE CONSISTENCY AND RELIABILITY OF INVESTOR PROTECTION ENABLE INVESTORS TO INVEST CAPITAL WITHOUT WORRYING ABOUT POTENTIAL CHANGES IN INVESTMENT REGULATIONS.