China in 2018 had 202 unicorns valued at a combined total of $744.6 billion, according to a Greatwall Strategy Consultants report. Among them, seven are considered super unicorns – companies valued at more than $10 billion.
The majority of China's unicorns are based in Beijing, Shanghai, Hangzhou and Shenzhen, with a combined number of 156, 19 more than the previous year and accounting for 77.2 percent of the total, the report said.
A unicorn refers to a technology start-up that has been established for less than 10 years but has a valuation of more than $1 billion and has not been listed on the stock market.
Let's take a look at the top 10 unicorns in the country last year.
No 10: Ping An Healthcare Tech (Valuation: $8.8 billion)
The booth of Ping An Healthcare Tech is pictured at an exhibition in Wuhan, Hubei province, April 17, 2019. [Photo/VCG]
No 9: Beike Zhaofang (Valuation: $9 billion)
Peng Yongdong, CEO of Beike Zhaofang, a major housing trading platform, speaks at the 2019 Boao Forum for Asia Annual Conference in Boao, Hainan province, on March 29. [Photo/VCG]
No 8: WeBank (Valuation: $9.23 billion)
Pedestrians walk past an advertisement for WeBank in Shanghai, Sept 21, 2018. [Photo/IC]
No 7: Bitmain (Valuation: $14.5 billion)
People visit the booth of Bitmain Technologies Holding Co at an exhibition in Fuzhou, Fujian province, June 18, 2018. [Photo/VCG]
No 4 (tie): Cainiao (Valuation: $20 billion)
A parcel delivered by the Cainiao Network, the logistics unit of Chinese e-commerce giant Alibaba, is seen in Ji'nan, East China's Shandong province, Nov 27, 2017. [Photo/IC]
No 4 (tie): JD Digits (Valuation: $20 billion)
JD Digits brings the newly designed universal robotic chassis, an intelligent inspection robot and its urban computing system to CES 2019. [Photo provided to chinadaily.com.cn]
No 4 (tie): Kuaishou (Valuation: $20 billion)
The Chinese popular short video app Kuaishou, or Kwai, is visible on a smartphone in Hong Kong, Jan 16, 2018. [Photo/VCG]
No 3: Didi Chuxing (Valuation: $60 billion)
The logo of Chinese ride-hailing firm DiDi Chuxing is seen on the t-shirt of an employee outside their new drivers' center in Toluca, Mexico on April 23, 2018. [Photo/Agencies]
No 2: Bytedance (Valuation: $75 billion)
Its new logo is seen at the headquarters of Beijing Bytedance Technology Co, owner of Chinese personalized news aggregator Jinri Toutiao and short video platform TikTok, in Beijing on Aug 6, 2018. [Photo/IC]
