The term unicorn is now well- known, meaning start-ups with a valuation in excess of a billion dollars. China now has about two- hundred such unicorns. Nearly a third of these have either already set up shop abroad, or are on the verge of doing so. These unicorns are spread over thirteen industrial sectors. The four largest of those industries have been shaped by substantial inputs of technology. These have been transportation, media, fintech and enterprise service. The geography has also been an interesting finding. More than a third of these companies are form the capital, Beijing. Shanghai of course has the next highest lot with a fourth of the total. Shenzhen and Hangzhou are the next two important cities, while surprisingly a mere two percent originate from Hong Kong. The size of the Chinese market has been a major reason for the rise of these unicorns. The entrepreneurial spirit of the people to tap in to such business innovations needs to be acknowledged. The rest of the world now knows that it has to live with the existence of these powerful Chinese unicorns and somehow battle them to preserve their own turfs.

Source:https://www.strategy-business.com/article/Chinas-herd-of-unicorns?gko=5a81d

Uploaded Date:16 August 2019