Chinese tech start-ups feel economic slowdown
More than 800 mainland Chinese online to offline (O2O) companies that secured Series A funding in 2014 have folded, according to the state-run Guangzhou Daily, indicating that internet and tech start-ups have been affected by the nation's economic slowdown. High-profile start-up Feiyu, a mobile and web games developer, is expected to post a net loss for 2016.

Feiyu’s expected net loss was due to the delay in launching key new mobile and web games. Photo: AFP