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How China has ‘throttled’ its private sector (www.ft.com)

submitted 1 month ago by utopiah@lemmy.ml to c/technology@lemmy.ml

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"Venture capital finance has dried up amid political and economic pressures, prompting a dramatic fall in new company formation"

Posted in technology as most of the funded companies are into technology. The most shocking piece is arguably the number of funded company pear year with a clear peak in 2018 which is 50x (!) more than last year, 2023.

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[–] pancake@lemmygrad.ml 8 points 1 month ago

The private sector is ceasing to be China's primary driver of growth, with that role year after year being further taken up by the state. Diminishing private funding is obviously not good, but it does align with their goal of reaching socialism by 2050. We'll see how their economy does from now on...