Hans Tung of Qiming Ventures in the new partner of GGV Capital, a cross-border venture capital company that has its focus on China and the U.S. Mr Tung, a venture capitalist who support the Chinese phonemaker Xiaomi that is now growing valued at $10 billion, is the sixth general partner of GGV.

Mr Tung has previously been involved in companies in mainland Chine such as Vanci.com, an online clothing retailer, and Forgame, a cloud-based game developer that recently listed publicly in Hong Kong.

He used to be a financial analyst for Merrill Lynch and was also connected with Bessemer Venture Partners.

Mr Tung will be working in Silicon Valley but will travel a lot of China. He said the there is convergence between the U.S. and Chinese markets as evidenced by Xiaomi's foray outside China, while western companies are putting in place virtual transaction systems used in Asia.

GGV, established in 2000, manages $1.6 billion funds and has managed 16 initial public offerings. It is one of the first investors in Alibaba, an e-commerce giant.

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