$6b tech funding boom signals flight to quality

If the startup funding party is finally breaking up, somebody forgot to tell China.

The second-largest economy is avoiding the pitfalls affecting venture capital elsewhere, as investors around the world rein things in after an unprecedented technology financing boom.

Ride-hailing app Didi Kuaidi, Alibaba Group Holding Ltd's finance affiliate and online property service Homelink, are close to raising at least $6 billion, people familiar with the separate deals said. The operator of Alipay, Alibaba's affiliate, is targeting more than $3.5 billion alone, which would mark the technology industry's largest single round of financing.