StartupsChina overtakes US with highest number of tech unicorns: report
Along with India and UK, the four countries account for 89% of 494 startups
An advertisement for Tik Tok, a mobile app that allows users to post videos of themselves. The app was created by Beijing Bytedance Technology, the second-biggest unicorn in the world. © AP
CK TAN, Nikkei staff writer
October 21, 2019 20:27 JST
SHANGHAI -- China is home to the greatest number of technology startups each valued at $1 billion and over as of June 30, as government policies and venture capitalists hoping to find the next Alibaba Group Holding foster a nurturing environment for such companies to grow.