China’s technology industry is exploding as gross output value of firms is estimated at 20 trillion yuan, or $3 trillion. The Asian nation is home to nine out of the world’s 20 largest tech firms and has more unicorns – or startups with an economic value of over $1 billion – than any other country in the world. Frank Holmes explains how tech investment will likely continue to grow, as Chinese foreign direct investment in the U.S. has fallen by 92 percent in the first half of this year due to a government crackdown on capital flight, among other reasons.
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