China is winning the global tech race

Cast your eyes down the list of the world’s most valuable private technology companies and you might be put in mind of the 2008 Beijing Olympics. That’s when China ran away with most of the gold medals — even though the west focused on the accomplishments of the US swimmer Michael Phelps. The same trend is evident in the list of technology “unicorns” worth $1bn or more. Uber, Airbnb and SpaceX may be hogging the limelight, but the undisputed gold medal leaders are the Chinese.  Of the top 50 entries in Wikipedia ranking, 26 are Chinese and 16 are American. There are none from Europe. The Chinese also dominate the proportion of the most valuable of these companies. Of the top 20 with an estimated market value of over $10bn, 11 are Chinese, six are American and two are Indian.

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View the list of unicorn startup companies in Wikipedia

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