CHINA / China’s startup culture thriving despite slowing economy

China’s economic slowdown is making no dent in the business startup boom that is changing the landscape of the country’s manufacturing sector.

As private-sector companies and consumers are replacing swollen and often inefficient state-owned enterprises as the main drivers of China’s economic growth, Chinese entrepreneurs are racing to capitalize on the trend shift. China has become the second-largest breeding ground of new businesses after the U.S.

Many of the startups that are mushrooming in China are entrepreneurial babies that have been born in the hotbed of manufacturing technology the country has accumulated over years as the factory of the world and are feeding on the purchasing power of the vast domestic market.

The growing ranks of Chinese technology startups are creating potentially lucrative innovations.

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