[TheRealmccoy]

Provide incentives and support to local companies to become multi-unicorns (BATs etc).

These companies start investing in other leading startups, scross the globe and have substantial stakes in them.

Then, nationalise these companies and you have then indirect control/semi-control/access over vast majority of leading startups across the globe.

This seems to be a nice move by Chinese government.

[jorblumesea]

But, where does the next wave of innovation come from? More startups?

Just seems like China's steal/nationalize everything doesn't create true innovation centers.

[adrianN]

China has a billion people and produces vast and rapidly growing numbers of highly skilled academics, both in their local universities and by sending students abroad. Many of the smartest people I know are Chinese and have returned to China after completing their degrees and collecting experience in western companies.