China

China’s former central banker blasts venture capital for fanning ‘winner takes all’ in digital economy



China should reflect on the growth model of its digital economy, where companies backed by venture capital often pursue a winner-take-all strategy by burning cash to squeeze out rivals, China’s former central bank governor Zhou Xiaochuan said.“Various types of venture capital funds, including angel investors, have helped establish and grow new forms of businesses. At the same time, however, they may have also fostered anticompetitive behaviours,” Zhou said at a seminar on the digital economy…



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