Chinese Tech Startup & Funding Morning Brief

China Tech Startup & Funding Brief — May 20, 2026

Today's roundup: AstronStone raises RMB 500M Series A for China's Starship-architecture rocket; AI Agent startups pack the funding queue led by ex-BigTech execs; Kimi (Moonshot AI) welcomes state-backed investors; Youju Body eyes a RMB 3B valuation; and an IT桔子 deep-dive finds Huawei alumni have built 588 startups collectively raising RMB 500B+.