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Fortune

Jason Ma

China's startup scene is dead as investors pull out—'Today, we are like lepers'

China FT United States Xi Jinping

Xi Jinping claps hands (Credit: Oliver Bunic—Bloomberg via Getty Images)

The number of new companies that are started in China annually has collapsed as fundraising by Chinese venture capital firms has similarly imploded.

A recent Financial Times report described a dire Chinese startup landscape, with founders, investors, and VCs offering bleak comments on condition of anonymity.

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