China hits record US$37b in VC deals in challenge to US
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Hong Kong
VENTURE capitalists poured a record US$37 billion into China startups last year, more than double the previous year's tally, as the country emerges as a legitimate challenger to the US for leadership of the technology industry.
The surge came as venture firms invested in 1,555 China deals, according to London consultancy Preqin Ltd. The pace of deals slowed in the fourth quarter, with the value of investments dropping about 40 per cent amid a shakeout in Internet services.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
