A sign for digital yuan, also referred to as e-CNY, is seen on a vending machine in Shanghai. Venture capital investment in China is shifting from the internet to hard tech. Photo: Reuters
China venture funding hits record US$131 billion despite crackdown, as start-ups pivot to hard tech
- Entrepreneurs and venture firms have turned away from softer internet businesses and toward hard tech like semiconductors, robotics and enterprise software
- The Chinese government is also making big bets on emerging technologies like hydrogen vehicles and biotechnology
A sign for digital yuan, also referred to as e-CNY, is seen on a vending machine in Shanghai. Venture capital investment in China is shifting from the internet to hard tech. Photo: Reuters
