Chinese ride-hailing giant Didi delisted from the New York Stock Exchange just months after its June 2021 IPO after a now-resolved regulatory probe that had forced Didi to suspend new user registrations.<\/p>\n
Brendan McDermid | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n
BEIJING \u2014 Slowing growth and geopolitical tensions are stifling the Chinese startup world that once spawned unicorns such as ByteDance and Didi, according to a PitchBook report Monday.<\/p>\n
China’s economic rebound<\/a> from the pandemic has slowed. U.S.-China tensions have spilled over to finance<\/a>, dampening already subdued market sentiment. Chinese regulation in the last two years has also made it harder for companies to go public overseas.<\/p>\n Venture capital firms in China invested $26.7 billion in 3,072 deals in the first half of 2023, PitchBook said.<\/p>\n On an annualized basis, that indicates a 31.4% drop from 2022 levels \u2014 on pace to fall below that of 2016, the report said.<\/p>\n Most investments were also small.<\/p>\n The annualized value of mega-deals \u2014 $100 million or larger \u2014 were on pace for their lowest level since 2015, PitchBook said.<\/p>\n<\/div>\n