The Chinese startup landscape, once a breeding ground for unicorns like ByteDance and Didi, is facing challenges due to slowing growth and geopolitical tensions, as revealed in a recent PitchBook report.

In the first half of 2023, venture capital firms in China invested a total of $26.7 billion across 3,072 deals. However, when this figure is annualized, it reveals a substantial 31.4% decrease compared to the previous year, potentially falling below levels last seen in 2016.

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