Current location:Culture Channels news portal > business
China nurtures unicorn enterprises via sci
Culture Channels news portal2024-05-07 16:34:16【business】9People have gathered around
IntroductionBEIJING, May 2 (Xinhua) -- With the steady improvement of China's overall strength in sci-tech innov
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)
Address of this article:http://reunion.whetstonetavern.com/article-72a199736.html
Very good!(9348)
Related articles
- Jewish leaders demand newly
- Nation's rich cultural heritage continues to captivate
- People take part in rally calling for immediate ceasefire in Jerusalem
- A technicolor twist on Yu the Great
- Wisconsin judge dismisses lawsuit challenging state's new wolf management plan
- Glamorous ex
- Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
- 'Lanting' cultural salon in Auckland celebrates Chinese calligraphy, traditions
- Danish King Frederik and his Australian
- Night landscape against stunning Milky Way in N China
Popular articles
Recommended
Turkey formally opens another former Byzantine
Hangzhou 2022 Asian Games lights up passion for Esports
Tourism booms in three
UK's Princess of Wales says she is under cancer treatment
Tom Brady roast: Netflix live event features Robert Kraft and Bill Belichick reunion
Commemoration ceremonies held to honor fallen heroes in SW China
Greek athletes excited to attend Chengdu Universiade
Asian cinema ready to unite
Links
- Israel prepared to handle any Iran scenario, defence chief says
- Petrobras reports net profit of BRL 124.6 bi in 2023
- How to make sure your leftovers are safe to eat
- Dealing with fast spreading pest hits new milestone for Otago Regional Council
- Chinese state media demands British Museum return 23,000 cultural relics
- 'Chubby Hearts' installation launches in Hong Kong
- Winston Peters to meet Anthony Blinken and Trump official in Washington
- Israeli military says troops captured hundreds of fighters in Gaza hospital
- Progress in Gaza truce talks in Cairo, Egypt's Al Qahera news says
- 'We will not be silenced': Gisborne council backs Māori wards