Venture capital funds flock to China’s eastern Zhejiang province amid hi-tech push
Zhejiang province in eastern China has emerged as the leading recipient of venture capital funding in 2024, solidifying its position as a major hub for advanced technologies like AI and robotics. This surge in investment is evidenced by the registration of 41 new corporate venture capital funds in the province last year, the highest number among 18 mainland provinces, according to data from CYZone Research Centre.
Zhejiang's capital, Hangzhou, is home to Alibaba and several high-profile startups known as the "Six Little Dragons," including DeepSeek and Unitree Robotics. The province's success in attracting investment reflects its evolution from an e-commerce hub to a haven for entrepreneurs in advanced tech, supported by favorable government policies such as tax incentives and industrial estate development, despite China's overall economic challenges.
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Zhejiang province in eastern China has emerged as the leading recipient of venture capital funding in 2024, solidifying its position as a major hub for advanced technologies like AI and robotics. This surge in investment is evidenced by the registration of 41 new corporate venture capital funds in the province last year, the highest number among 18 mainland provinces, according to data from CYZone Research Centre.
Zhejiang's capital, Hangzhou, is home to Alibaba and several high-profile startups known as the "Six Little Dragons," including DeepSeek and Unitree Robotics. The province's success in attracting investment reflects its evolution from an e-commerce hub to a haven for entrepreneurs in advanced tech, supported by favorable government policies such as tax incentives and industrial estate development, despite China's overall economic challenges.
via SCMP Full Text Feed
