The Chinese capital of Beijing has the largest concentration of fast-growing unicorns – start-ups valued at least US$1 billion – in the world’s second largest economy, with an estimated 79 such companies located in the city in 2018. Photo: Agence France-Presse
China created a unicorn every 3.8 days in 2018
- The valuation of China’s biggest unicorn, Ant Financial, has exceeded 1 trillion yuan
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Start-ups
The Chinese capital of Beijing has the largest concentration of fast-growing unicorns – start-ups valued at least US$1 billion – in the world’s second largest economy, with an estimated 79 such companies located in the city in 2018. Photo: Agence France-Presse
Joseph Tsai Chung-hsin, executive vice-chairman of Alibaba Group Holding, expects a “healthy correction” in the valuations of China’s private technology market within the next six to nine months. Photo: Edmond So
‘Distorted’ private tech market valuations to see correction in next six to nine months, says Alibaba’s Joe Tsai
- The Alibaba executive vice-chairman says there is no end in sight for the US-China trade war
- Tsai expects tax cuts for small businesses and individuals to help stimulate China’s economy
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Joseph Tsai
Joseph Tsai Chung-hsin, executive vice-chairman of Alibaba Group Holding, expects a “healthy correction” in the valuations of China’s private technology market within the next six to nine months. Photo: Edmond So