In a notable development for China’s burgeoning quantum technology sector, SpinQ Technology announced the completion of a CNY 600 million (approximately $87 million) Series C+ funding round on April 3, 2026. This follows closely on the heels of QBoson’s successful CNY 1 billion ($145 million) Series B funding round, which was finalized just days earlier.
These funding rounds are indicative of a broader trend within China’s quantum sector, which has seen a significant shift from public to private investment. As of mid-March 2026, the domestic quantum computing track recorded 150 financing events totaling CNY 11.2 billion, a stark contrast to the funding landscape prior to 2022, where rounds typically ranged from $1 to $16 million.
China’s government has heavily invested in quantum technology, allocating approximately $15 billion to support the sector as part of its 15th Five-Year Plan, which designates quantum as a top ‘future industry’. This strategic focus aims to bolster commercialization support and manufacturing subsidies, paving the way for a more robust quantum ecosystem.
Despite the recent influx of capital, the sector has faced challenges. Notably, major players like Alibaba and Baidu have scaled back their quantum research efforts, with Alibaba shutting down its DAMO Academy quantum lab in November 2023, and Baidu exiting quantum research entirely in January 2024.
However, the momentum appears to be shifting back in favor of growth. SpinQ reported an impressive 80% year-over-year order growth in Q1 2026, signaling strong market demand. Furthermore, QBoson opened China’s first large-scale photonic quantum computer factory in Shenzhen in November 2025, marking a significant milestone in the country’s quantum manufacturing capabilities.
Origin Quantum is also making strides, having initiated IPO counseling for the Shanghai STAR Market in September 2025, which could further enhance investment and visibility for the quantum sector.
As the landscape evolves, the reactions from industry leaders and government officials have been cautiously optimistic. The surge in funding is seen as a positive sign for the future of quantum technology in China, which is increasingly viewed as a critical area for innovation and economic development.
In summary, China’s quantum sector is at a pivotal moment, with substantial investments flowing in and a renewed focus on development and commercialization. The future trajectory of this industry will be closely watched as it continues to unfold.