Chinese start-ups have attracted more venture capital funding than their US counterparts for the first time, according to a report from information and data provider Preqin and graduate business school INSEAD.
The report said that in the first half of 2018, $56 billion was invested in China-based early-stage companies, compared to $42 billion in the US during the same period.
“China’s emergence as a hub of innovation and entrepreneurship has been the major venture capital narrative of the past five years,” Christopher Elvin, Preqin’s head of private equity, said in a release.
