China nurtures unicorn enterprises via sci
Release time：2024-05-07 19:42:31 Source：Culture Curve 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：These 15 AP photos capturing migrants' struggle were honored with a Pulitzer Prize
- Next：Liam Gallagher rents swanky £17,000
Related articles
- Larrañaga, Kruger, Dunphy and Nolan to be honored with Joe Lapchick Character Award
- United Methodists repeal longstanding ban on LGBTQ clergy
- United Methodists repeal longstanding ban on LGBTQ clergy
- Russell Wilson and Ciara find a buyer for $25m, 11,000sq ft mansion near Seattle
- Baby Reindeer knocked off Netflix's top spot by new 'must
- Twins center fielder Byron Buxton leaves game against White Sox with sore right knee
- New US sanctions against Russia target weapons development, ban uranium imports for nuclear power
- Gisele Bundchen exudes sporty chic in an all
- Turkey says it has carried out new airstrikes against Kurdish militants in northern Iraq
- PSG defender Lucas Hernández injured in Champions League semifinal first leg at Dortmund
- The night that bra
- Bernie Williams to raise awareness of lung disease at May 3 event in Puerto Rico
- Deion Sanders, son respond to social media criticisms over how coach handled transfers at Colorado
- Sarah Snook steps out with her mother and husband to watch her former Succession co
- Talor Gooch of LIV Golf gets a special invitation to the PGA Championship
- We're proof cancer is NOT an old person's disease: Two women struck down with the 'C
- Small earthquake shakes a wide area of Southern California. No initial reports of damage
- Mbappé leads full
- Lawsuit alleges decades of child sex abuse at Illinois juvenile detention centers statewide
- Baby Reindeer stars Richard Gadd and Jessica Gunning are arm
Random recommendation
Exam tutor and education expert reveal the ultimate study hacks to help secure top marksDodgers place closer Evan Phillips on injured list with hamstring strain and activate Blake TreinenViolence breaks out at Leeds University as proMiami is hotter than ever! Here's what to do in America's most exciting cityDriver dies after crashing into White House perimeter gate, Secret Service saysMaple Leafs star Auston Matthews is available for Game 7 with Bruins after sitting last 2 gamesSARAH VINE: Why Harry cannot just waltz back whenever he fanciesFormer security guard convicted of killing unarmed man during an argument at a Memphis gas stationBritain 'must lay out red carpet' to retain top tech firmsBritain 'must lay out red carpet' to retain top tech firms
- Copyright © 2024 Powered by China nurtures unicorn enterprises via sci ,Culture Curve news portal sitemap