As of March 2018, there are 126 unicorn companies in China across 15 industries and 10 cities, with a total valuation of $625.3 billion, or about four trillion yuan.
After a chilling 2016, the capital markets became more rational in 2017. The overall trend remains unclear, but investors seem willing to back projects that show clear rewards. This has led to broad heavy investment, creating more unicorns than previous years.
On January 31, the China Internet Network Information Center (CNNIC) released the 41st statistical report of China Internet network development in Beijing. As of December 2017, China’s Internet population reached 772 million, with a penetration rate of 55.8 percent.
PitchBook, a global data research institution based in the Silicon Valley, names its Unicorn Class of 2017. In 2017, 57 start-ups were valued at more than $1 billion, and their total value was as high as $116 billion. Eighteen Chinese enterprises were on the list, and 10 were among the top 20.