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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.
1 year 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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