From The New York Times: Venture Communism: How China Is Building a Start-Up Boom
The Chinese Communist Party doesn’t trust the invisible hand of capitalism alone to encourage entrepreneurship, especially since it is a big part of the leadership’s strategy to reshape the sagging economy.
Which is why the government of Hangzhou — a former royal capital that has been a major commercial hub for more than a millennium — built Dream Town and lavishes resources on start-ups. The businesses here get a slate of benefits like subsidized rent, cash handouts and special training, all courtesy of the city.