Venture capitalists in China not very venturesome

Anybody who believes the tech bubble has already been worked through needs to take a look at the venture capital industry in China. The funds were set up during two record years of funds raising in 1999 and 2000 but the collapse in tech valuations has caused many of the venture capitalists to sit on their hands. China's difficult and regulatory environment has played a role in stifling growth. Venture capitalists need exit strategies like a drunk needs his whiskey bottle, and they are…