Illustration: Lau Ka-kuen

Chinese tech faces an innovation reality check as the economy cools and start-ups stumble

  • Even after a banner year for venture capital funding, some investors predict that as many as 90 per cent of Chinese tech start-ups are doomed to fail
  • The sheer size of the Chinese marketplace is no longer enough to keep a struggling tech company afloat
Topic |   China technology

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Illustration: Lau Ka-kuen
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A screen shows a demonstration of Chinese AI firm Horizon Robotics’ facial recognition software. A Credit Suisse report said that most of China’s R&D spending is in experimental development. Photo: Reuters

China no match for US unicorns in AI, big data and robotics as it continues to play catch-up in R&D, says Credit Suisse

  • China’s share of hi-tech unicorns of 14 per cent versus 40 per cent for the US has much to do with the country’s inadequate advanced R&D capability
  • China accounts for almost 30 per cent of the world’s unicorns, which have an overall valuation of more than US$1 trillion
Topic |   Start-ups

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A screen shows a demonstration of Chinese AI firm Horizon Robotics’ facial recognition software. A Credit Suisse report said that most of China’s R&D spending is in experimental development. Photo: Reuters
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