📝 Executive Summary
China's venture capital landscape is undergoing a massive shift, with AI-focused startups capturing 50% of total deal value in the first half of 2026. While overall VC deal value surged to $52.8 billion, capital is increasingly concentrated in large-scale AI and robotics funding rounds. Major players like Moonshot AI, StepFun, and Kling AI are now eyeing Hong Kong IPOs, following the successful market debuts of Zhipu and MiniMax earlier this year.