A quiet yet breathtaking overhaul is underway in China's A-share market.


In the past, you’d hear about Sequoia Capital, Hillhouse, and IDG every day.
Now, the screen is filled with Shenzhen Venture Capital, Zhejiang State-owned Capital, and Hefei Industrial Investment.
Previously, you chased baijiu, medical aesthetics, and internet platforms; now the state is forcing you to focus on hard tech, semiconductors, and advanced manufacturing.
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