Who are the new unicorn companies in China?

According to the report, the number of unicorn companies in China reached 218 in 2019, an increase of 16 from 2018, with a total valuation of 796.4 billion US dollars and an average valuation of 3.65 billion US dollars.

A Chinese report counts 218 unicorns in this year.

On August 7, a report on China’s unicorn companies in 2019 was released, which sorted out the unicorn companies that performed well in 2019-2020.

The report was announced at a conference co-sponsored by Tianjin Municipal Science and Technology Bureau and Greatwall Strategy Consultants.

According to the report, the number of unicorn companies in China reached 218 in 2019, an increase of 16 from 2018, with a total valuation of 796.4 billion US dollars and an average valuation of 3.65 billion US dollars.

These companies are distributed in 28 cities across the country, of which there are 156 unicorn companies in Beijing, Shanghai, Shenzhen and Hangzhou, accounting for 71.6% of the total number of unicorn companies in China.

The three cities of Jinan, Zhangjiakou, and Jiaxing have unicorn companies on the list for the first time.

These companies are distributed in 26 fields, among which the number of unicorn companies in the smart logistics, medical and health, artificial intelligence, new entertainment, new retail, and Internet-based education ranks top. At the same time, new sub-fields are constantly emerging on the basis of these main areas.

Among them, Ant Group, ByteDance, Didi Chuxing, Cainiao Network, Kuaishou, JD Digits, JD Logistics, WeBank, Guazi.com, and Ke.com are the top ten unicorns. Among them, Ant Group topped the list with a valuation of US$150 billion.

The top ten unicorn companies in China are as follows:

  1. Ant Group
  2. ByteDance
  3. Didi Chuxing
  4. Cainiao Network
  5. Kwai, or Kuaishou
  6. JD Digits
  7. JD Logistics
  8. WeBank
  9. Guazi.com
  10. Ke.com

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/08/who-are-the-new-unicorn-companies-in-china/.

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