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China's startup culture thriving despite slowing economy

SHENZHEN -- China's economic slowdown is making no dent in the business startup boom that is changing the landscape of the country's manufacturing sector.

As private-sector companies and consumers are replacing swollen and often inefficient state-owned enterprises as the main drivers of China's economic growth, Chinese entrepreneurs are racing to capitalize on the trend shift. China has become the second-largest breeding ground of new businesses after the U.S.

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