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China trails U.S. in creating unicorns, Hurun ranking shows

Two countries dominate, with nearly 75% of total; India in third place

China is slipping further behind the U.S. in the number of unicorns -- startups valued at more than $1 billion -- as ranked in a global survey. (Source image by AP)

SHANGHAI -- China fell further behind the U.S. in the number of startups valued at more than $1 billion, according to a report Monday published by China-based researchers. However, the two countries continue to dominate the worldwide list of "unicorns," as the highly valued unlisted companies are called.

The Global Unicorn Index 2021, compiled by Shanghai's Hurun Research Institute, showed that Chinese unicorns accounted for 301, or 28%, of 1,058 unicorns worldwide, as of the end of end of November. In all, 42 countries had at least one unicorn. Collectively, the companies were worth $3.7 trillion.

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