China gave birth to a new unicorn every 2.6 days in the third quarter, and the country now has 181 unicorns, which has exceeded the U.S. to be the world's largest source of unicorns in terms of numbers, according to the Hurun Greater China Unicorn Index.
The top 2 in the list are Ant Financial Services Group, the financial arm of Alibaba Group, which is valued at 1 trillion yuan as well as news aggregating platform Toutiao, valued at 500 billion yuan.
Luckin Coffee, a local rival of the U.S.' Starbucks which was founded 270 days ago, was the fastest-rising unicorn in China in the third quarter of 2018 amid ongoing China-U.S. trade tensions.
