IDG Chairman Patrick J. McGovern Wins China’s International Investment Achievement Award
BOSTON, MA – February 8, 2008 – In recognition of his great contribution to China’s information industry and venture capital field, Patrick J. McGovern, founder and chairman of International Data Group (IDG), was awarded the International Investment Achievement Award at the CCTV 2007 China Economic Leadership Award ceremony on January 30, 2008 in Beijing. This is the first time the award has been given to a foreign investor and the award ceremony was broadcast live nationwide on China Central Television (CCTV).
“I am so honored to win this award,” said Mr. McGovern, who made his 102nd visit to China to accept the award. “IDG invests in over 40 countries, but our results in China are the highest because the Chinese people are intelligent, honest, hardworking, and very enterprising. The government policies support rapid economic growth and the market environment enables companies that bring better products into the market to grow very rapidly,” he added.
In 1980, IDG was the first American company to establish a joint venture in China. McGovern launched China Computerworld weekly, the first and only Sino-US joint venture in the media field. To date, IDG has over 30 magazines and newspapers in the fields of computer technologies, electronics and telecommunications by means of joint venture or cooperative publishing in China.
“These publications speeded up the development of China’s IT industry,” said Liu Chuanzhi, founder of Lenovo.
In 1993, McGovern established IDG Venture Investment Fund (IDGVC) in China, the first venture capital firm in China, with investment management companies in Beijing, Shanghai, Guangdong, Tianjin and Shenzhen. At present, IDGVC has become a leading VC firm in China with US $1.6 billion under management. To date, IDGVC has made investments in over 220 companies such as Sohu, Tencent, Baidu, Kingdee, Ctrip, Chatea, etc. creating 400,000 job opportunities.
China Central Television (CCTV) is China´s largest national TV network. The CCTV China Economic Leadership Award was established 8 years ago, becoming the most prestigious economic award in China.
About International Data Group
International Data Group (IDG) is the world's leading technology media, events, and research company. IDG’s online network includes more than 450 web sites spanning business technology, consumer technology, digital entertainment and video games worldwide. IDG also publishes more than 300 magazines and newspapers in 85 countries. IDG's media brands include CIO, CSO, Computerworld, GamePro, InfoWorld, Macworld, Network World, and PC World. IDG’s lead-generation service, IDG Connect, matches technology companies with an audience of engaged, high-quality IT professionals, influencers, and decision makers.
IDG is a leading producer of more than 750 technology-related events including Macworld Conference & Expo, LinuxWorld Conference & Expo, Entertainment for All Expo (E for All), DEMO, and IDC Directions. IDC, a subsidiary of IDG, is the premier global provider of market intelligence, advisory services, and events. Over 900 IDC analysts in more than 90 countries provide global, regional, and local expertise on technology and industry opportunities and trends.
Additional information about IDG, a privately held company, is available at http://www.idg.com.