Rebecca A. Fannin: China’s venture investments rose to $105 billion in 2018, nearly matching the U.S. at $111 billion, according to Preqin data.

Several factors have contributed to the trend. The Chinese government has grand ambitions to make China a tech superpower, such as its Made in China 2025 policy initiative for building national companies into high-tech champions, and its Internet Plus plan to power up the mobile Internet and the Internet of Things. China’s rise in tech has been a bone of contention in the U.S.-China trade war, unsettling President Donald Trump and other American policymakers.

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