Am an ethnically Chinese Singaporean. That is not really true. Chinese businessmen have a way of doing business that is pretty unique and not startup-like.

Some examples:

1. Real estate purchases (with bank loans) are a superior alternative to renting because paying mortgage beats making a landlord richer. Also, east-asian culture believes that very few things beat the appreciating value of land.

2. We love profit. I for one, started a company since I graduated moving from one product to another. And I do not tolerate making losses unless there is significant expectation of profit in the short-term. (I think this applies to older generation "chinese businessmen" because we never had such a thing as venture capital.