Despite global economic and political uncertainty, Chinese startups are generally positive about their business prospects and plan to raise capital and further expand their workforce this year, said Silicon Valley Bank in its 2019 Startup Outlook report.

The report, published last month, surveyed 1,377 startup executives from the US, the UK, Canada and China.

The findings show that eight in 10 Chinese startups think positively about this year’s business conditions. However, compared with last year, a growing number of startups expect fundraising will be more difficult. Of the entrepreneurs surveyed, 28% say that fundraising is “extremely challenging” as opposed to 13% in the US. This may be due to in part to government efforts to reduce financial risk, which has had some effect on Chinese venture capital fundraising and investing, the report says.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.