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China tech

Clock ticks for China unicorns as US listing window narrows

Market cycle fears and 2020 elections threaten prime conditions

NEW YORK -- Xiao Shanglue has plenty of titles already -- he is founder, chairman and CEO of Yunji, a Chinese e-commerce startup. But if things go as planned, he will soon bag another one: billionaire.

Xiao owns close to half of Yunji, which is scheduled to list on the Nasdaq on Friday. The company is expected to be worth more than $2 billion after its initial public offering. Located in Hangzhou, where Alibaba Group Holding is also based, the young company seeks to upset China's e-commerce landscape with its social sharing and membership model. Yunji expanded its customer base tenfold within two years to 23.2 million in 2018.

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