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China tech

Used cars and AI come out on top as China's startup funding slumps

36Kr shows 1H funding on track to fall 33% as sharing-economy darlings lose their shine

A man looks at a demonstration of human motion analysis software developed by artificial intelligence solutions maker Horizon Robotics. (Beijing, China October 24, 2018)    © Reuters

SHANGHAI/TOKYO -- Chinese startups face increasing difficulty in raising money to fuel their businesses as various headwinds including the country's slower economic growth shrink the availability of venture capital.

Fundraising slowed to 362.9 billion yuan ($52.6 billion) in the first half of 2019. At this rate, the full-year total is on track to fall more than 30% from 2018, when it reached nearly 1.2 trillion yuan.

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