Chinese VCs Get the Jitters.

The article reports on a survey by Zero2IPO Research Center which reveals that Chinese venture capitalists are affected by the economic downturn along with their Silicon Valley counterparts. The Chinese Venture Capitalist Confidence Index plunged to a 3.25-point reading on a 5-point scale in the third quarter of 2008. The survey found that 20 venture capital funds raised $492.2 million in the third quarter, an 83.7 percent decline from the $3 billion raised by 40 funds in the record-setting prior quarter.