China shock 2.0: the flood of high-tech goods that will change the world
ft.comWell, so far as the governments get VAT from the manufacturers, they are getting a return on their investments. They are more like mutualizing the companies than subsidizing them, that is the successful or mature ones are getting taxed to help the nascent ones.
China's unofficial policy is to allow and tolerant competition within the sector -- and their economics model encourages the creation of a lot of companies in the same sectors too.
I recently picked up a Bambu P2S (3d printer) after seeing rave reviews. I can confirm it lives up to the hype. Looking forward to a robot maid around the end of the decade.