Recently, at the "Global Unicorn Company Conference" of 2024 ZGC Forum Annual Conference, the Report on the Development of Unicorn Companies in China (2024) (hereinafter referred to as the "Report") was released. It revealed that China's unicorn companies comprise over one-quarter of the global total, positioning the country as second only to the United States in this regard. Notably, more than 60 percent of Chinese unicorn companies are concentrated in Beijing, Shanghai, Shenzhen, Guangzhou and Hangzhou. Beijing leads the nation with 114 unicorn companies, earning it the title of "Unicorn City" in China.

It is reported that Beijing's unicorn companies are generally characterized by their abundance, focusing on hard technologies, exploration of new tracks and high level of internationalization. 60 percent of Beijing's unicorn companies specialize in hard technology enterprises, with one-third of them originating from Beijing.

According to the Report, by capitalizing on the significant opportunities presented by the digital economy to spearhead and propel global economic growth, China's unicorn companies have emerged as the driving force for the transformation of industrial digitalization. Among the top 100 unicorn companies in terms of valuation, 78 percent of their businesses are closely tied to the digital economy, covering various sectors such as industrial Internet, big data, AI medical care and enterprise services.

(Source: Beijing Daily)