China gets record US$31b in venture capital investment in 2016 despite global woes

Venture capital investment in China rose 19 per cent to account for around a quarter of the global total of US$127 billion last year, even though the number of deals declined 42 per cent to just 300, according to KPMG’s quarterly report on global VC trends. China saw its two biggest deals for the year in the first half of 2016: US$1.2 billion in funding for peer-to-peer lending platform Lufax and Apple’s US$1 billion investment in taxi-hailing app Didi Chuxing.

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