China citizens are proud the country can compete with the US on AI, venture fund manager says 

Dave Zhong/Getty Images for CNBC International

Edith Yeung, Head of Greater China & Partner of 500 Startups China, speaks during Fireside Chat on Day 1 of CNBC East Tech West at LN Garden Hotel Nansha Guangzhou on November 27, 2018 in Nansha, Guangzhou, China.

The venture fund manager was also asked by CNBC on what kind of start-ups she was currently looking for. Her previous investments include Stellar, Nebulas, Solana, Oasis Labs, Hooked, DayDayCook, Silk Labs (acquired by Apple), Fleksy (acquired by Pinterest), AISense, and Penrose, according to her website.

“It really depends what you are working on. It is hard for us to get to know a company within five minutes. But what we want to know is that you have a good understanding of the landscape and point out the obvious,” she said.

“It’s completely OK to say (for example), ‘We are solving the payment issue for health care because that is unique … If you can be very specific — and you are the person solving that problem, it is very interesting for us,” she added.

Yeung has invested in over 40 mobile, virtual reality, augmented reality, AI, and machine-learning start-ups.