While some onlookers believe a capital winter could be just the medicine China’s young tech community needs, established startups are seeking more capital than ever. From real estate to fintech and on-demand services, no one appears to be shying away from a heavy cash burn-rate in 2016.

Here are three multi-billion dollar deals that have come to light over the past week, worth a combined $6 billion, which show just how fearless China’s VC environment is in 2016.

Ant Financial, the Alibaba-backed finance giant behind Alipay, is looking to raise a round of at least 20 billion yuan ($3.5 billion USD), bringing the company’s total valuation to around $60 billion USD. Ant Financial’s 2015/2016 investment portfolio is incredibly diverse, and includes everything from Indian payment platform, PayTM, to the China’s Postal Savings Bank. The company raised $1.9 billion USD in their first round last year. The latest round could be the foundation for a highly-anticipated IPO.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com