
Beijing boasts 2nd largest number of valuable tech startups
China DailyView of a logo of Xiaomi at a store in Liaocheng city, East China's Shandong province, Jan 15, 2016. Beijing boasts the world's second-largest number of most valuable tech startups, showcasing its advance in the sector. The number of so-called unicorn companies-tech startups valued at more than $1 billion each-has reached 40, second to Silicon Valley in the United States. "Moreover, Beijing is home to China's top universities and research institutes, which cultivate technical talent for these unicorn companies." Liu Hang, spokesman for the management committee at the Zhongguancun Science Park, estimates that with technical breakthroughs in big data application, intelligent hardware, artificial intelligence and virtual reality, a series of new unicorn companies will emerge in these fields.
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