Investment surges in TMT

Private equity and venture capital (PE/VC) investment in China's telecommunications, media and technology (TMT) industry hit a two-and-half-year high with total investment of $5.35 billion in the second quarter of 2014, PricewaterhouseCoopers said in a report released Wednesday.

The investment amount is equal to the total investment for the TMT industry in the first half of 2013, and equivalent to the overall PE/VC deal size across all industries in the first quarter of 2014.