21 Jun '14, 11pm

This 2011 guest post by @andymok via @techrice, "Time to Join a #China #Startup?" remains valid in 2014

First, while the notion of guo jin min tui (国进民退 – the state advances while the private sector retreats) has gotten a lot of recent attention, the private sector in China has quietly become the engine of economic growth and outpaces the state-owned sector in a few essential benchmarks. For example, in a recent Economist article, a Communist Party official noted that there are 43 million companies in China of which 93% are private and employ 92% of China’s workers. According to China Macro Finance, a research firm in New York, the number of registered private businesses grew by more than 30% a year between 2000 and 2009. Given China’s continued strong economic growth and emphasis on domestic consumption, this trend is likely to continue, if not actually accelerate. More importantly, a study by Qiao Liu, a professor at the University of Hong Kong, concludes that the average ...

Full article: http://techrice.com/2011/04/01/time-to-join-a-china-startup/

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