China’s provincial investment in industry is very different. They use loans and take equity in the businesses so they have a direct interest in the companies su

China’s provincial investment in industry is very different. They use loans and take equity in the businesses so they have a direct interest in the companies succeeding. Grants and tax incentives for non-novel or R&D heavy industry is a terrible investment. Especially since it’s just a competition between states that escalates every year with how lucrative they can make the offering and how little they demand in return.