China nurtures unicorn enterprises via sci
Release time：2024-05-07 16:25:51 Source：Cultural Current news portal
-
BEIJING, May 2 (Xinhua) -- With the steady improvement of China's overall strength in sci-tech innovation, a multitude of unicorn enterprises have been fostered in the country in recent years, providing continuous momentum for nurturing new quality productive forces. China boasts 369 unicorn companies, or startups valued at more than 1 billion U.S. dollars, according to a report on China's unicorn enterprise development, which was released at the just-concluded 2024 Zhongguancun Forum (ZGC Forum) in Beijing. The number of unicorn companies in China amounts to over a quarter of the total number of such companies globally. The country has added 67 new unicorn companies over the past year, the report said. "It shows the vitality of China's economic development," said Li Daokui, an economist at Tsinghua University, at the ZGC Forum. "But the number of unicorn firms in the country is far from reaching its potential." "The three core competencies most critical to the development of Chinese unicorn enterprises are innovation, high-quality delivery, and the ability to make continuous innovation," said Lai Lipeng, co-founder of XtalPi, a Chinese unicorn company powered by artificial intelligence (AI) and robotics. Carbios is a French unicorn company that specializes in the development and industrialization of biological technologies to reinvent the life cycle of plastics and textiles. At the forum, Emmanuel Ladent, the company's CEO, expressed his expectation of entering the Chinese market. "Innovation and disruptive innovation like Carbios's are always welcome in a market like China. China is pushing a lot for clean and green technologies and biotech. It has a huge industry in plastics and textiles, so there is a huge opportunity for us to develop a partnership in China and make sure we will be successful," the CEO said. In terms of localities, the 369 unicorn companies in China span 47 cities nationwide, and more than 60 percent of them are concentrated in Beijing, Shanghai, Shenzhen, Guangzhou, and Hangzhou. Beijing ranks first nationwide with 114 unicorn companies, the report noted. Beijing has cultivated more than 40 listed unicorn enterprises, such as Xiaomi, JD.com, and Meituan, with a total market value of about 3 trillion yuan (about 422 billion U.S. dollars), according to Zhang Yulei, deputy director of the Beijing Municipal Science and Technology Commission. In the fields of autonomous driving, new energy storage, and robotics, companies such as Mech-Mind, a Chinese unicorn firm focusing on industrial 3D cameras and AI-powered software for intelligent robotics, have actively carried out R&D layout and business expansion around the world, Zhang said. "I'm especially grateful for the fertile land of Beijing. If not for Beijing, Xiaomi could not have achieved such results and could not have been born," Lei Jun, founder and CEO of Xiaomi, said at the opening ceremony of the forum. Beijing is actively building a long-term ecosystem to support the growth of unicorn companies. Last year, it maximized the release of policy dividends for unicorn enterprises in terms of innovation support, talent settlement, financial support, and market cultivation. Meanwhile, the capital city set up four new government direct investment funds with a total scale of 50 billion yuan in the industries of AI, medicine and health, robotics, and information, investing more in innovative enterprises, especially unicorn firms. "Now, in terms of policies, obviously, China is pushing for more regulations, more circular economy, more integration of recycled plastics and recycled textures. So I think we are in a very favorable environment for the European unions," Ladent said. Currently, China's 369 unicorn companies span 16 sectors, with the fields of AI and integrated circuits taking the lead. Wu Shichun, founding partner of Plum Ventures, thinks that in the next three to five years, AI, new energy, and new materials are expected to be the fields where the most unicorn firms will emerge. Norose, executive deputy general manager of Daiwa Securities (China) Co., Ltd., said that the areas where most Japanese companies want to invest and cooperate include environmental protection technology and new materials, high-performance materials, autonomous driving technology, the Internet of Things, robotics, and new energy, among others. "I think these are areas that have medium to long-term potential in the future and may be relatively easy to do business globally," Norose said. "Unicorn firms should look at the global market rather than only focus on specific markets to attract overseas investors to achieve sustainable growth."
（Editor:Wang Su）
- Previous：Maternal deaths have fallen to pre
- Next：Shocking moment Pennsylvania man pulls a gun on pastor in front of horrified congregation
Related articles
- Dylan Cease says last year with White Sox 'wasn't enjoyable in really any way'
- Moment huge line of surfers ride the five
- Inside Britain's most northerly hotel in the Shetland Islands
- I travelled to Milan for a night out
- Trump faces jail threat over gag order as prosecutors zero in on transactions at heart of the case
- Brits warned of little
- Bad economy, nosy relatives: Young Chinese put off by Lunar New Year
- Food fan reviews America's wackiest MCDONALD'S
- Dylan Cease says last year with White Sox 'wasn't enjoyable in really any way'
- I spent a week on mega
- ABC News president Kim Godwin steps down
- I'm a Brit
- I'm an American living in Britain
- Former resident aboard world's most exclusive invite
- 2 killed when a small plane headed to South Carolina crashes in Virginia, police say
- I'm a former royal butler
- Meet the 'AIRLINE nepo baby': 23
- Nature's the star at The Datai resort in Malaysia. But... beware the monkeys raiding the minibar!
- Overseas businessmen show confidence in Hong Kong's business environment
- I'm an American living in Britain
Random recommendation
2nd Hong Kong pop culture festival to open on April 6Travel fanatic who spent $530 for a ONETravel fanatic who spent $530 for a ONEUK lawmakers will vote on a landmark bill aiming to create the country's first smokeChina reaps fruits far beyond iceZhang makes history to reach 2nd round at Monte CarloLegendary animator Hayao Miyazaki's new OscarQingdao top Ningbo, Sichuan losing skid reaches 18Cambodia plans to add 7 tangible, 3 intangible cultural properties to UNESCO's heritage listing: PMSingapore's outgoing prime minister will stay on as senior minister, his successor says
- Copyright © 2024 Powered by China nurtures unicorn enterprises via sci ,Cultural Current news portal sitemap