Bad for China but this might give the lagging part of the west (i.e. the EU) a much needed breather.
> According to data from IT Juzi cited in the report, the number of companies founded in China so far this year is just 260, on track to dip below 2023’s tally of 1,202 and a 99% decline from a peak of 51,302 in 2018.
> VC fundraising has taken a similar dive. Yuan-denominated funds have raised the equivalent of $5.38 billion year to date, down from a peak of nearly $125 billion in 2017. Meanwhile, dollar-denominated funds have raised less than $1 billion, down from a high of $17.3 billion in 2022, according to Prequin.
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SAD
Bad for China but this might give the lagging part of the west (i.e. the EU) a much needed breather.
> According to data from IT Juzi cited in the report, the number of companies founded in China so far this year is just 260, on track to dip below 2023’s tally of 1,202 and a 99% decline from a peak of 51,302 in 2018.
> VC fundraising has taken a similar dive. Yuan-denominated funds have raised the equivalent of $5.38 billion year to date, down from a peak of nearly $125 billion in 2017. Meanwhile, dollar-denominated funds have raised less than $1 billion, down from a high of $17.3 billion in 2022, according to Prequin.