China Deal Review: Startup funding slumps 32% to a record low in May

Venture capital funding for privately-held firms across mainland China, Hong Kong, Macau, and Taiwan plunged 32% to $2.5 billion in May over the previous month, as China’s uneven economic growth and ongoing geopolitical tensions weighed on investor sentiment. This was the lowest amount raised by Chinese startups since DealStreetAsia started tracking deals of all sizes in April 2020.