China tech firms thrive on US funds despite curbs

[HONG KONG] China's tech companies may be Beijing's darlings, but they have US dollar funding to thank. The next generation of upstarts look likely to continue the pattern.

Foreign currency funds poured US$5 billion into venture capital the first half of this year - three times more than local funds raised.

The economic benefits these foreign investors bring make the rules keeping them out harder to justify.