The clue may be in the price: the H-share index is cheap. On seven times 2016 earnings, it trades at a lower multiple than Spain (with 22 per cent unemployment), Brazil (dependent upon commodities and thus China), and both Turkey and Egypt, affected by Middle Eastern turmoil.
China's expenditure on technology research and development rose 10.6% to 1.57 trillion yuan in 2016, the fastest annual growth since 2014, as the nation increases its investment in new driving forces to stabilize the economy.437
Most entrepreneurs (78 per cent)used savings or relied on friends and family to raise all or part of their start-up funds. Angel financing was also a source for a quarter of entrepreneurs.713