Technology startups are the new gold for China's wealthy as economy slows

Hong Kong

MORE wealthy Chinese are ploughing money into technology start-ups which are increasingly seen as a safe haven as the slowing economy eases hopes of extracting returns from traditional investments such as stocks, property or gold.

While Chinese shares are being pummelled and the yuan is under pressure, these private investors are turning to businesses such as taxi-hailing company Didi Kuaidi, which saw its valuation rise 25 per cent to about US$20 billion in a US$1 billion funding round launched last week.