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<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:ali="http://www.niso.org/schemas/ali/1.0/" article-type="research-article" dtd-version="1.2" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">RUDN Journal of Economics</journal-id><journal-title-group><journal-title xml:lang="en">RUDN Journal of Economics</journal-title><trans-title-group xml:lang="ru"><trans-title>Вестник Российского университета дружбы народов. Серия: Экономика</trans-title></trans-title-group></journal-title-group><issn publication-format="print">2313-2329</issn><issn publication-format="electronic">2408-8986</issn><publisher><publisher-name xml:lang="en">Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">23412</article-id><article-id pub-id-type="doi">10.22363/2313-2329-2019-27-4-753-760</article-id><article-categories><subj-group subj-group-type="toc-heading" xml:lang="en"><subject>ECONOMIC GROWTH AND SOCIO-ECONOMIC DEVELOPMENT</subject></subj-group><subj-group subj-group-type="toc-heading" xml:lang="ru"><subject>ЭКОНОМИЧЕСКИЙ РОСТ И СОЦИАЛЬНО-ЭКОНОМИЧЕСКОЕ РАЗВИТИЕ</subject></subj-group><subj-group subj-group-type="article-type"><subject>Research Article</subject></subj-group></article-categories><title-group><article-title xml:lang="en">China venture market overview</article-title><trans-title-group xml:lang="ru"><trans-title>Обзор венчурного рынка Китая</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author"><name-alternatives><name xml:lang="en"><surname>Reshetnikova</surname><given-names>Marina S.</given-names></name><name xml:lang="ru"><surname>Решетникова</surname><given-names>Марина Сергеевна</given-names></name></name-alternatives><bio xml:lang="en"><p>PhD, Assistant Professor of Department of Economic and Mathematical Modeling</p></bio><bio xml:lang="ru"><p>кандидат экономических наук, доцент кафедры экономико-математического моделирования</p></bio><email>reshetnikova-ms@rudn.ru</email><xref ref-type="aff" rid="aff1"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">Peoples’ Friendship University of Russia (RUDN University)</institution></aff><aff><institution xml:lang="ru">Российский университет дружбы народов</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2019-12-15" publication-format="electronic"><day>15</day><month>12</month><year>2019</year></pub-date><volume>27</volume><issue>4</issue><issue-title xml:lang="en">VOL 27, NO4 (2019)</issue-title><issue-title xml:lang="ru">ТОМ 27, №4 (2019)</issue-title><fpage>753</fpage><lpage>760</lpage><history><date date-type="received" iso-8601-date="2020-04-08"><day>08</day><month>04</month><year>2020</year></date></history><permissions><copyright-statement xml:lang="en">Copyright ©; 2019, Reshetnikova M.S.</copyright-statement><copyright-statement xml:lang="ru">Copyright ©; 2019, Решетникова М.С.</copyright-statement><copyright-year>2019</copyright-year><copyright-holder xml:lang="en">Reshetnikova M.S.</copyright-holder><copyright-holder xml:lang="ru">Решетникова М.С.</copyright-holder><ali:free_to_read xmlns:ali="http://www.niso.org/schemas/ali/1.0/"/><license><ali:license_ref xmlns:ali="http://www.niso.org/schemas/ali/1.0/">http://creativecommons.org/licenses/by/4.0</ali:license_ref></license></permissions><self-uri xlink:href="https://journals.rudn.ru/economics/article/view/23412">https://journals.rudn.ru/economics/article/view/23412</self-uri><abstract xml:lang="en"><p>Today the Chinese economy has rapidly begun the transition to a new stage of development. Its basis is high-tech production and national breakthrough technologies. This process happens due to the transformation of the government strategy in the direction of scaling up innovation through the inclusion of small and medium enterprises. China has been able to raise venture investments for its new development plan. However, since 2016, the rapid growth of the Chinese venture market has raised many concerns. The purpose of the study was to analyze and assess the current state of China's venture capital market. The research proved that, despite signs of overheating, it is still premature to talk about the formation of a “bubble” in the Chinese venture market. The article concludes with a discussion that China is transforming itself again and that the next wave of innovation and private entrepreneurship will be the wave of the future, with substantial global consequences.</p></abstract><trans-abstract xml:lang="ru"><p>Сегодня китайская экономика начала стремительный переход на новый этап развития. Его основой являются высокотехнологичное производство и национальные прорывные технологии. Этот процесс происходит вследствие трансформации государственной стратегии в направлении расширения инноваций путем включения малых и средних предприятий. Китай смог привлечь беспрецедентный по своему объему венчурный капитал для осуществления нового плана развития. Тем не менее с 2016 года быстрый рост венчурного рынка Китая вызывает много опасений. Целью исследования было проанализировать и оценить текущее состояние рынка венчурного капитала в Китае. Исследование показало, что, несмотря на признаки «перегрева», говорить о формировании «пузыря» на венчурном рынке Китая пока преждевременно. Статья завершается обсуждением того, что Китай снова трансформируется и следующая волна инноваций и частного предпринимательства станет волной будущего, имеющей существенные глобальные последствия.</p></trans-abstract><kwd-group xml:lang="en"><kwd>venture capital</kwd><kwd>innovative entrepreneurship</kwd><kwd>R &amp; D</kwd><kwd>China</kwd><kwd>start-up</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>венчурный капитал</kwd><kwd>инновационное предпринимательство</kwd><kwd>НИОКР</kwd><kwd>Китай</kwd><kwd>стартап</kwd></kwd-group><funding-group/></article-meta></front><body></body><back><ref-list><ref id="B1"><label>1.</label><mixed-citation>Agten, S. (2019). China's innovation, not investments, should worry Europe. EUobserver. 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