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Clemens von Goetze, Germany's ambassador to China, and other guests opened the first bottles of wine for the event.

Choi confirmed the Southeast Asia is where the new fund is looking, with the North American market coming next.

Citing ECRL, one of the key projects under the Belt and Road Initiative as an example, CIMB said the rail's contract awards should commence in the first half next year, with project completion by 2024.

Chris Kelley, principal of Menlo Park, Calif. venture firm DFJ said the best entrepreneurs don’t just look at the players in the market, they look for problems that aren’t being solved. Kelley says DFJ, which has?invested in several cloud companies as well as big names like Twitter, Baidu, Redfin, SpaceX and others, would absolutely invest in a company looking to put up a challenge against even the biggest players such as Amazon Web Services or Microsoft’s Azure.

Citing data from the jobs site Glassdoor, CNBC reported at the end of April that internship opportunities had been cut in half in the U.S. due to the coronavirus. The information technology sector trailed only travel and tourism as the hardest hit industries.