Statistics Show China with More ‘Unicorn’ Start-Ups than America
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As per current statistical reports, it has been proven that the number of ‘unicorn’ start-up companies or firms in China with an asset value of over $1 billion is the largest among all countries.
Hurun Institute’s reports suggest China is home to 206 such unicorn set-ups with America scoring below that country will 203.
In fact, in a combinative measure, these two countries constitute about 80% of all global unicorn ventures.
This news has set things apart during the times of tremendous economic competition between the two countries in a quest to emerge as the global technology leader.
As per Hurun chairman Rupert Hoogewerf, China and America, in spite of contributing only half of the global GDP and about one-quarter of the global population are running the race of development.
China-based payment company Ant Financial is currently topping the list with an asset value of $150 billion.
The company, conceived back in 2014, works as an online payment platform known as Alipay which is again an offshoot of the global e-commerce honcho, Alibaba.
Second, the list is China-based Bytedance with an asset value of $75 billion which owns the world-renowned video-sharing application Tik-Tok.
Third, comes Didi Chuxing, a ride-sharing firm with an estimated value of $55 billion.
Some of the biggest US-based names in the top 10 list include Airbnb, WeWork, and Juul.
These reports are in fact, fuelling the economic tensions between the two countries.
The past year has been heavy and hefty for both the countries in the spectrum of trade. This modern war reflected substantially in the sector of technology as well when the dispute over one of China’s biggest telecom company Huawei came into play.
America claimed that Huawei puts a major national security risk and hence, trade restrictions have been instilled ever since.
However, the company denied every allegation. As per conspiracy and political theorists, this, in fact, is America’s stratagem to sabotage China’s technological growth into the global market.
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