Chinese developer here. I've just graduated from university and worked at a startup company a year ago.
The thing is that the startup situation here (at least in Shanghai) is actually really good. College students are encouraged to go for their own companies. There're many policies to give benefit for this, like cheap office rent, lower tax rate and many thing else. Investment are relatively easy to get, according to my knowledge. The startup scene (can't find a word to describe this) is also very active. People have these and that kinds of meetups. Many chances of exposure are also available and really accessible, like "Starup Competition" (basically people go there and introduce their products and then most people get a medal), magazine/video exposures are also there. Personally I think it is quite good. The focus starts to move to mobile gaming and mobile apps and such.
I just want to say that the environment is quite good. It's not what most people imaging that government and large companies come and harass you everyday. It's just a successful startup is equally hard, as anywhere in the world.