China startup funding plunges to 8-year low in Q2

Decline in VC investments narrows gap between India and Southeast Asia

Observers in China are wondering whether a $1.2 billion fine against Didi Global may be a sign that Beijing will start easing its crackdown on tech giants. (Source photos by Reuters and AP)

WATARU SUZUKI, Nikkei staff writer

July 26, 2022 12:16 JST

TOKYO -- Startup funding in China hit an eight-year low in the April-June quarter, as a tech crackdown and COVID-19 related restrictions weighed on the world's second largest economy.