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As China strives to transform its economy and make a Silicon Valley in most of its 30-plus provinces, more than 780 local government funds pour $445 billion into the risky world of venture capital

s China attempts to transform its economy toward consumerism and curb debt-driven spending on infrastructure, it has encouraged provincial governments to try to stake their claim on the next billion-dollar startup by putting money into venture-capital businesses. They've deployed $445 billion, but one expert warned that the return on the investment is far from guaranteed and the flood of money could distort markets.
10 months ago
Amedeo Tumolillo
By Amedeo Tumolillo
Amedeo Tumolillo is an editorial consultant with SupChina and award-winning multimedia journalist. He previously worked at The New York Times and Spectrum. Follow him on Twitter at @hellotumo.
China in 2 minutes a day
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