Chinese Unicorn Companies Leading Global Growth
Chinese unicorn companies are demonstrating the fastest growth in the world, with a focus on advanced manufacturing, automotive technology, fintech, corporate services, and artificial intelligence, according to Xinhua News Agency.
Unicorn 2024 Ranking Highlights Chinese Market Growth
In the Unicorn 2024 ranking of the top 500 companies globally, released in Qingdao, 32 Chinese companies were recognized for their exceptional growth compared to companies from other countries. The total estimated value of these Chinese unicorn companies has nearly reached ¥30 trillion ($4.2 trillion), marking a 7% increase from the previous year.
China Leads in Unicorn Companies Worldwide
China and the United States jointly control over three-quarters of the total number of unicorn companies in the world. Top companies on the list include ByteDance, SpaceX, and OpenAI. According to a report from the «Zhongguancun-2024» forum, China is home to 369 unicorn companies, accounting for more than a quarter of the global total.
Chinese High-Tech Companies Driving Innovation
Se Shuzhan, Director of the Innovation Department at the Chinese Inventors Association, highlighted that Chinese high-tech companies are leading in innovation due to the vast market potential, fostering rapid commercialization and modernization of the economy.
