China presents a fascinating nation for tech entrepreneurs. The speed at which China’s technology grows and transforms is perhaps the most important aspect in defining what’s happening in the country’s startup industry: The Middle Kingdom is now the second largest arena for entrepreneurship with one startup is set up every seven minutes.

To highlight the changes, virtually every very period of the past few years has its own theme: smart hardware for 2013-2014, cross-border e-commerce and ride-hailing for 2015, VR and bike sharing for 2016-2017, and unmanned store and new retail for 2017. In China’s tech market, the only thing permanent is change itself.

China’s tech companies pivot and change at an amazing speed to catch up with the market evolutions. Venture capital—those firms financiers behind the scenes—are also experiencing its own paradigm shifts.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.