China’s start-ups are slashing jobs, cutting pay and appealing for government bailouts after the shutdown caused by the coronavirus outbreak cut off their access to funding.
The dynamic but fragile sector was already suffering from a “capital winter” that began last year as a venture capital boom turned into a bust.
Now many start-ups have been hit by the long pause imposed on China's economy, with most face-to-face meetings with investors put on hold because of the risk of coronavirus contagion.
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