Interesting! Unfortunately it doesn't seem to say where YC China would be based.
Some interesting snippets (G Translated):
Lu Qi: YC China's new business will include
1) business incubation,
2) talent training,
3) research and
4) public welfare.
These are all in a way that Lu Qi's plan will operate in an unprecedented way. He wants more than just new technology. Technology is only an ability to change society. He wants to establish a new ecological support for new technology to change the society. That is the correct way to open the new world in his mind.
[...]
Q: How will YC China start?
Lu Qi: Among the four businesses, the first to start is the incubator. Incubation camps are the first attempt at YC localization, but at the same time it draws on the core of YC:
1. The methodology of the incubator process and training content established by Paul Graham;
2. A network of YC alumni with more than 4,000 people. Alumni will help later entrepreneurs, and for Chinese entrepreneurs, alumni networks around the world can set up channels for offshore companies;
3. The YC brand, which is incubated by YC, is equivalent to being recognized and endorsed, and is more likely to be favored by investment institutions.
In other respects, YC China may develop its own entrepreneurship curriculum and expect to reverse the influence of American entrepreneurs because I believe that globalization is the best way to innovate. YC China's research institute will be established under the YC Global Research Institute and will establish cooperation with Chinese research institutions. Finally, the charity business is hoping to focus on solving the impact of new technologies on people's employment.
However, it is now the first day of the launch of YC China, and everything is still very early. I only have one person now. The most important thing at the moment is recruiting people.
[...]
Lu Qi: Because we need to build a new innovation ecosystem, so many players with different roles can participate.
The first is Chinese investors. Because YC China will be closer to the early projects, it hopes to establish good interaction with Chinese middle and late investors. Also, YC China will also raise funds independently, and I hope to get support from China LP.
Second, we and the big companies will also have a lot of cooperation. YC China's investment projects may be acquired, acquired, or serviced by large companies in the later stages.
YC China Research Institute will also establish contacts with government or research institutions within the enterprise, and hopes to become China's support for the country to become a big country in innovation.
[...]
Sam has said on many occasions that 10 companies will reach Google in the next decade, three to four of them will be born in China, and more than 20 years of professional experience tells me that these three or four companies must be Believe in long-term companies.