This thesis focuses on the topic of funding ecosystem for start-ups in China. The number of newly-registered enterprises in China has surged in the last decade. The developing evolution of start-ups is the reflection of rapid economic growth in China. With the basic national conditions of a large population and uneven development, Chinese government motivates entrepreneurship to promote economic development and create employment opportunities by creating a good investment climate. More and more young people try to start up their own business in different industries and try to get funding to expand their business in recent years, which has largely boosted the economic growth. However, not every young firm could keep on running with a rapid growth at every stage of development, some even disappeared at the early stage in the competitive market. When we focus on the factors what affects the survival of the young firms, access to finance is definitely the main point that we have to keep our mind on. Access to finance is the most important area where improvements would help entrepreneurs to succeed. To have a study on the field access to finance: funding ecosystem for start-ups in China could help us have a good analysis and understanding on the funding sources and investment climate in China. After introduction, some theoretical reviews about the definition, and the background of the funding ecosystem for start-ups in China, I design an online survey regarding funding sources to collect data to have a first research study on the funding ecosystem for start-ups in China. According to the results of the survey, I come up with two research questions: (1) Why do so few start-ups have access to finance with venture capital investment (VC) in China? (2) Why is private lending such a popular funding channel for start-ups in China? To find the answer, I have a research study based on modeling analysis and comparative analysis, respectively. From the perspective of theoretical analysis, I try to find why so few start-ups have access to finance with VC in China based on the basic model as well as the extended model. According to the model research, the supply of VC funds is positively related to the share of profit for the venture capitalists, and negatively related to the interest rate. A high rate of return on investment is the prerequisite for the venture capitalists, and if a high threshold of VC investment is required by venture capitalist, then there will be few firms can successfully get access to VC. By comparison with the funding ecosystem in the U.S., I highlight my analysis on what are the roles that venture capital, bank loans, government credit guarantee schemes and corporate venture capital fund act in the funding ecosystem for start-ups both in China and the U.S.. I find that it is much more difficult for start-ups to secure bank loans in China due to the banking system, and complicated relationship between entrepreneurs and government officials as well as unhealthy intervention of government could leave start-ups in a dilemma to opt for normal funding sources or informal funding sources. That is why the private lending is so popular for start-ups in China. At last, I give some suggestions to create a diverse and mature funding ecosystem for start-ups in China. The Chinese banking system ought to be reformed to narrow the funding gap between state-owned enterprises and private enterprises. Banks can develop innovative funding platforms to reduce the rate of default. With appropriate policies, regulations and laws in place, governments can play an essential role in enabling the emergence of a deeper and more diverse mix of funding options to support business growth.