China's push to become a global leader in cutting-edge technologies is triggering a surge in venture capital investments, with startups in sectors such as commercial space, quantum computing, nuclear fusion and artificial intelligence attracting billions of yuan despite having little or no revenue, according to Reuters.
The investment frenzy comes as Beijing intensifies efforts to narrow the technology gap with the United States by prioritising what it calls "strategic emerging and future industries." The government's latest five-year plan identifies sectors including aerospace, robotics, biomanufacturing and hydrogen energy as key pillars of future economic growth.
