Tech entrepreneur Rosie Zhang is betting that the reopening of China’s borders to the world will jump-start growth for her start-up.“Now we can go out and sell,” she said, after three years spent during the pandemic pitching customers and teaching them how to use her company’s retail automation technology over video calls from Shanghai.
Zhang is one of a growing number of Chinese tech founders, who, even at a time of rising geopolitical tensions, are turning their sights outward. Tepid economic growth and fierce competition are one reason they are looking outside of China. Beijing’s tech crackdown and “common prosperity” drive targeting the country’s business magnates have also sapped their confidence in their home market.
“Chinese entrepreneurs face intense competition at home and an uncertain business environment, so it makes sense many are looking at opportunities abroad,” said Huan Li, an investor at start-up accelerator Plug and Play.