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During the recently concluded Second Global Unicorn Enterprise Conference, the Report on the Development of China's Unicorn Enterprises (2025) was unveiled. According to the report, China boasts a total of 409 unicorn companies, collectively valued at approximately $1,506.8 billion. This figure represents nearly 30% of the global unicorn market, positioning China second globally. These companies span 12 diverse fields, including integrated circuits and artificial intelligence. Among them, unicorn companies in artificial intelligence, new consumption and retail, and integrated circuits lead the pack in terms of valuation. China's unicorn enterprises are predominantly clustered in cities like Beijing, Shanghai, Shenzhen, Hangzhou, and Guangzhou, with hard technology enterprises demonstrating robust financing capabilities.
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