“The whole industry has just died before our eyes,” the executive continues. “The entrepreneurial spirit is dead. It is very sad to see.”
In 2018, 51,302 start-ups were founded in China. By 2023, that figure had collapsed to 1,202 and is on track to be even lower this year.
“I am like the Titanic, flying the flag as the ship goes down.”
ft.com/content/1e9e7544-9..
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#A Glance of China 行摄中国
