China ranks second globally with 416 unicorn firms: report

A report released at the Global Unicorn Companies Conference 2026 in the parallel forums of the 2026 Zhongguancun Forum revealed that China was home to 416 unicorn companies in 2025.

This number represents nearly 30% of the overall total of unicorn companies across the world, solidifying China's position as the world's second-largest hub for these.

According to the "China Unicorn Companies Development Report (2026)," these companies had a combined valuation of approximately $1.61 trillion, with an average valuation of about $3.87 billion per firm.