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China hits record US$37b in VC deals in challenge to US

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Xiaomi stumbled in its goal of selling 80 million smartphones last year as rivals copy its youthful style and online sales strategy.

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

sentifi.com

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