A customer uses Alipay, the online and mobile payment platform operated by Ant Financial, to pay for goods at a pharmacy in Hong Kong. The company is among China’s tech “unicorns”. Photo: Xinhua

China overtakes the US in number of new companies worth at least US$1 billion, report says

  • China has 181 start-ups worth at least US$1 billion, outpacing the US with 138, according to the Hurun Report
  • Luckin Coffee, founded in June 2017, is the youngest of the successful new ventures to join the club of unlisted companies worth US$1 billion
Topic |   Start-ups

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A customer uses Alipay, the online and mobile payment platform operated by Ant Financial, to pay for goods at a pharmacy in Hong Kong. The company is among China’s tech “unicorns”. Photo: Xinhua
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