Venture capital finance has dried up amid political and economic pressures, prompting a dramatic fall in new company formation

Financial Times reported the growth of the state-owned sector in regards to the private-owned sector, which at first I see as very good news.

However, I wanted to know what is happening to the tech sector, is the state absorbing it, or is it simply being abandoned? What is happening to tech workers, including biotech and robotics? It’s very hard to find good information on China.

  • davel [he/him]@lemmygrad.mlEnglish
    16·
    10 days ago

    However, I wanted to know what is happening to the tech sector, is the state absorbing it, or is it simply being abandoned?

    The tech sector is only being “throttled” from the perspective of haute bourgeoisie largess, because the Chinese state is coming for them through taxation. In reality, of late the Chinese state claims to be doubling down on the tech sector, while letting the property development/speculation sector hang out to dry.

    • burlemarx@lemmygrad.mlOP
      4·
      9 days ago

      I think it’s very good to have VC funds to bleed, as well as many speculators to get heavily taxed and even imprisoned. But I was worried about tech workers in China, a few months back I heard it was really difficult to get a job.