China ranks 2nd as home to over 300 unicorn companies: report

[Beidou2020]

China ranks 2nd as home to over 300 unicorn companies: report
Source: Xinhua
Editor: huaxia
2021-12-25 15:03:30

BEIJING, Dec. 25 (Xinhua) -- China ranked second globally with a total of 301 unicorn companies, or startups valued at more than 1 billion U.S. dollars in 2021, according to a new report released by a Shanghai-based research institute.

Compared with a year ago, 74 new Chinese unicorn companies were added to the list, said the Global Unicorn Index 2021 compiled by the Hurun Research Institute.

Globally, a total of 1,058 unicorn companies were on the list, up 80 percent year on year, the data showed.

The United States topped the list with 487 unicorn companies in total, while India has surpassed Britain to grab the third spot with 54 startups.

Chinese tech giant Bytedance, the parent company of video platform TikTok and its Chinese sister app Douyin, came in as the most valuable unicorn worldwide, with its valuation surging to 2.3 trillion yuan (about 350 billion U.S. dollars) this year.

Beijing hosted 91 unicorn companies in 2021, second largest in terms of the number of unicorns globally, while Shanghai ranked fourth with 71. Shenzhen maintained its fifth place with 32 unicorn companies.

 

[FairAndUnbiased]

Quality of the unicorns is also important. The issue is with unicorns that are just toy ponies with a plastic horn taped to it's forehead in great cruelty.

A unicorn that profits from privatizing formerly free public goods is worse than none at all except for bragging rights.

 

[Stranagor]

Quality of the unicorns is also important. The issue is with unicorns that are just toy ponies with a plastic horn taped to it's forehead in great cruelty.

A unicorn that profits from privatizing formerly free public goods is worse than none at all except for bragging rights.

I think the relative decline in the number of newly-registered start-ups in China over the two years is because the government now looks more at quality than quantity. Unicorns cloning each other and increasing in number (such as food delivery) has little value in terms of tech advancement. I think unicorns should not only be listed according to the size of revenue, but also innovation, patents etc.

 

[SaadH]

Quality of the unicorns is also important. The issue is with unicorns that are just toy ponies with a plastic horn taped to it's forehead in great cruelty.

A unicorn that profits from privatizing formerly free public goods is worse than none at all except for bragging rights.

That's pretty much most of US enterprises and their top 10 companies.

 

[Hamartia Antidote]

That's pretty much most of US enterprises and their top 10 companies.

You mean like SpaceX vs Bytedance? World's most powerful rockets vs TikTok?