TECH_ For Chinese Startups, an Economic Slowdown Brings a ‘Freezing Winter’

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TECH

For Chinese Startups, an Economic Slowdown Brings a ‘Freezing Winter’

Venture funding shrinks amid U.S. trade fight; Mobike cuts jobs, and tenants of co-working firm Inncube break leases


China's economy grew at its slowest pace since 1990 last year. The 6.6% growth rate is due in part to the continuing trade conflict with the U.S. and China's efforts to get a handle on debt. Photo: EUROPEAN PRESSPHOTO AGENCY


By Shan Li and Yoko Kubota
Feb. 5, 2019 6:30 a.m. ET


BEIJING—China’s hard-charging technology sector, which has produced some of the world’s hottest public companies and unicorn startups, is experiencing something different: a slowdown.

An economic deceleration amid the trade fight with the U.S. is causing layoffs, reducing bonuses and shrinking the easy venture funding that fueled China’s thriving startup scene.

While...

READ MORE: https://www.wsj.com/articles/for-chinese-startups-an-economic-slowdown-brings-a-freezing-winter-11549366201


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