China is an ever-evolving investment landscape for private equity funds.
With diverse and fast-changing consumer preferences, constant technological innovation and the prospect of regulatory obstacles kicking in at any moment, the world's second biggest economy offers immense opportunity for those who avoid some alarming pitfalls.
“Almost every half a year, there’s a new theme,” said Gilbert Zeng, co-head of China at Standard Chartered Private Equity, an investment arm of the British bank that focuses on emerging markets. He cited online-to-offline platforms, fintech start-ups and more recently, the rise of artificial intelligence players in China, as examples of capital darlings in recent years.
But...