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CX Daily: Stricter Rules, State Capital Are Rewiring China’s Venture Ecosystem

Published: Sep. 9, 2026  9:00 a.m.  GMT+8
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Analysis: Stricter Rules, State Capital Are Rewiring China’s Venture Ecosystem

In June 2026, not a single private equity (PE) or venture capital (VC) fund manager successfully registered with the Asset Management Association of China (AMAC) — the first month with no approvals since the registration system launched 12 years ago.

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