{"id":35017,"date":"2022-02-07T03:37:35","date_gmt":"2022-02-07T03:37:35","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=35017"},"modified":"2022-02-07T03:37:35","modified_gmt":"2022-02-07T03:37:35","slug":"betting-on-tech-firms-like-nio-and-boc-pays-off-for-communist-officials-in-chinas-eastern-city-of-hefei","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=35017","title":{"rendered":"Betting on tech firms like Nio and BOC pays off for communist officials in China\u2019s eastern city of Hefei"},"content":{"rendered":"<p>Source: Tech &#8211; South China Morning PostIn early 2020, as the pandemic pushed it to the verge of bankruptcy, China\u2019s highest-\u00adprofile rival to Tesla was shunned by the venture capital funds and foreign investors that had powered its rise. So Nasdaq-listed Nio turned to China\u2019s newest class of venture capitalists: Communist officials.The municipal government of Hefei, a city in eastern China, pledged 5 billion yuan (US$787 million) to acquire a 17 per cent stake in Nio\u2019s core business. The company moved key executives from Shanghai to\u2026<a href=\"https:\/\/www.scmp.com\/tech\/tech-trends\/article\/3166064\/betting-tech-firms-nio-and-boc-pays-communist-officials-chinas?utm_source=rss_feed\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Tech &#8211; South China Morning PostIn early 2020, as the pandemic pushed it to the verge of bankruptcy, China\u2019s highest-\u00adprofile rival to Tesla was shunned by the venture capital&hellip; <\/p>\n","protected":false},"author":0,"featured_media":35018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/35017"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35017"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/35017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/media\/35018"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35017"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}