China becomes second-largest source of ‘unicorn com

China has become the world’s second-largest source of “unicorn companies” accordi

ng to the latest report on China unicorn companies by the Evergrande Research Institute.

With 88 in total, China is the world’s second-largest source of unicorn compani

es following the US with 151. The report cited data from IC Insight gathered between 2013 and Dec 31, 2018.

Twenty-two companies worldwide were included as super unicorn companies in 2018 and C

hina’s Fintech company Ant Financial ranked first in value worth $150 billion, the report said.

The US and China had the greatest number of new sup

r unicorns worth $10 billion last year with 12 and 7 respectively, accounting for 86.4 percent of

the world’s total. The UK, India and Singapore had one of these companies each in the same period.

New energy vehicles, artificial intelligence chips, robots, big da

ta, computer vision and cloud computing are the main areas for these emerging unicorns.

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