Chinese venture capital investment in US biotech companies fell by more than half in H1 as Washington tightened scrutiny of funding from overseas, raising fears that US start-ups will struggle to raise funds and access the large Chinese market, said the Financial Times.
Chinese investors took part in a venture capital funding rounds for US biotech companies worth $725 million in the first six months of 2019, down nearly 60% from $1.65 billion when compared to the same period last year, according to Seattle-based data provider PitchBook.
After accusing Beijing of systematically stealing intellectual property, Washington in November began subjecting any foreign investment over 5% in several kinds of technologies including biotech to review by the Committee on Foreign Investment in the US, a government security committee.