Aug. 22 – In the first half of the year, China attracted 71 venture investment deals worth US$1.37 billion; the highest level since 2003.

In comparison, venture investment amounted to 69 deals worth US$662 million during the same period last year. The biggest deal came from a US$430 million contract for Beijing-based Oak Pacific Interactive to provide an Internet platform for Web 2.0 communities.

According to the China Quarterly Venture Capital Report from Dow Jones VentureSource, the country’s IT industry contributed a chunk of venture investment with 28 deals worth an estimated US$899 million, a 184 percent increase over the compared to last year.

It reported that the consumer services industry, which includes media, content and information, received 17 deals to contribute US$246 million, an increase of 34 percent. On the other hand, the business and financial services category had 13 deals that attracted US$99 million at a 25 percent decrease from the same period last year.

The health care industry remained small with only three biopharmaceutical deals worth around US$13 million. The report observed that although most capital went to developed and later-stage companies, early-stage deals were also prevalent.