China’s President Xi pledges increased support for technology firms reports Reuters.
While that will be welcome for Chinese tech and manufacturing companies, the question is just how effective top down initiatives like this are in building a vibrant industry.
As the country’s debt balloons and state owned corporations find themselves trapped with legacy businesses and massive inventories, the pressure is on the PRC’s government to find new ways to stimulate the economy, this is a start but it’s hard not think the Politburo will have to find ways to boost small business investment and startups.