A total of 2,675 venture capital (VC) funding deals were announced in China during January-October 2023 while the disclosed funding value of these deals was US$34.6bn.

China witnessed considerable decline in terms of both deal volume and value compared to January-October 2022, according to GlobalData, the data and analytics company.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

An analysis of GlobalData’s Financial Deals Database reveals deals volume and value declined by 15.7% and 29.1%, respectively, year-on-year (YoY) during January-October 2023, compared to the 3,175 VC deals worth $48.8bn announced during the same period in 2022.

Aurojyoti Bose, lead analyst at GlobalData, said : “The decline in VC funding deals volume and value is now a global phenomenon and China is not an exception to this trend. However, China continued to dominate the APAC VC landscape despite the decline.”

China accounted for 46.6% and 60.5% share of the APAC region’s total VC funding deal volume and value, respectively, during January-October 2023.

See Also:

Bose added: “China is also a key global market and stood just next to the US in terms of both VC funding deal volume and value.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

China accounted for 15.8% of the total number of VC funding deals announced globally during January-October 2023 while its share of corresponding disclosed deal value stood at 17.1%.

Some of the notable VC funding deals announced in China during January-October 2023 include $1.8bn worth of funding raised by GTA Semiconductor, $1bn raised by Envision, $1bn raised by ROX Motor Tech, $960.8m raised by Zhejiang Hozon New Energy Automobile, $750m secured by Zeekr, $623m raised by Xiamen Hithium Storage Technology, and $600 million secured by Farizon Auto.

Bose concluded: “China’s steadfast position in the APAC VC arena underscores its resilience amid broader market shifts. Standing shoulder to shoulder with the US, it continues to shape the global VC landscape.”