• Bloomberg

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China’s intensifying crackdown on technology companies is proving to be a cautionary tale for investors in the nation’s startups, with one notable exception: consumer brands.

From cosmetics to bubble tea, Chinese ventures making waves among a new generation of shoppers are becoming a magnet for funds hunting for their next big hit. Investors may see such companies as a viable alternative to tech startups because the government, rather than clamping down, is pushing to foster domestic champions that can fuel spending and compete with the likes of Coca-Cola Co. and Nike Inc.

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