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A Chinese start-up's unfolding dilemma exposes cracks in Beijing's tech funding machine

Economy · 12 Jun 2026 · 🇺🇸 United States
A Chinese start-up's unfolding dilemma exposes cracks in Beijing's tech funding machine

While the U.S. channels support to tech winners indirectly via incentives, Chinese governments at every level take direct equity stakes.

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