Reported 7 months ago
Chinese President Xi Jinping recently held a dialogue with entrepreneurs and experts where he questioned the reason behind the decline in the number of unicorn startups in China. While official media reports vaguely addressed the issue, social media users pointed out that the problem lies with the one asking the question - Xi Jinping. Unicorn startups refer to privately-held startups valued at over $1 billion. Factors like the China-US trade war, geopolitical competition, and Xi's policies favoring state control over private enterprises have contributed to the changing landscape of China's startup ecosystem, with many expressing concerns over the government's increased intervention and restrictions on innovation and entrepreneurship.
Source: YAHOO