China leads startup growth

An astonishing 46 Chinese startups have reached a valuation in excess of $1 billion in the last six years.
That’s according to Business Insider who report that, when it comes to startups,”Chinese cities Beijing and Shanghai are leading the pack over in Asia, hot on the heels of their Western counterparts.”
The news follows our report from April that China is seen as a global leader in tech innovation.

A man works on his self-developed robot at a high-tech park in Jiangsu Province. [Photo: VCG]

The Changing Landscape of Disruptive Technologies is an annual study undertaken by the firm, based on a survey of more than 750 global technology industry leaders.
According to KPMG, who wrote the report, these include start-up entrepreneurs as well as FORTUNE 500 executives.
The research asked the industry leaders various questions about their industry.
Based on their answers, it concluded:
“China is at the forefront of several knowledge- and tech-intensive industries.”
“China is also drawing on a growing and increasingly sophisticated talent pool, which is an important enabler for tech innovation advancement.”