The Rise of Chinese Venture Capital – (Part 3 of 5)
APRIL 12, 2013
The first post described how China built a science and technology infrastructure to support advanced weapons systems development. By 1991, 70% of the Torch funded startups were getting bank financing for expansion and later stages of the new ventures, with local governments acting as guarantors. These local governments financially supported the startups because, by locating in these zones, the new ventures were seen as contributing to local economic development.