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Today: November 18, 2024
May 11, 2024
1 min read

Chinese VC’s caution IPO halt threatens innovation in tech sector

TLDR:

  • Chinese venture capitalists are warning that the IPO freeze in the country is hindering innovation by starving tech startups of funds.
  • The freeze has led to a significant decline in funds raised via IPOs in mainland China and has caused many Chinese IPO candidates to terminate their listing plans.

Chinese venture capitalists expressed their concerns at the ChinaVenture Investment Conference in Shanghai, highlighting the difficulties they face in recouping investments and the impact on China’s technology innovation. The industry is becoming increasingly pessimistic due to policy uncertainty and many firms have started cutting staff. VC firms are calling on the government to unveil detailed policies to support the struggling industry, with a focus on the primary market. The Politburo of the Communist Party recently expressed the need to promote venture investment and bolster long-term capital, but industry experts are urging for concrete measures to be implemented.

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