When it comes to the country with the most number of startups that are valued over $ 1 billion, China tops the list. Giving it a lead over the U.S which is currenlty on a trade-war with the former.

According to Hurun Global Unicorn List 2019, which was released on the 21st of October, their are 494 tech startups around the globe founded in the 2000s that are valued over $ 1 billion that have not yet gone public. Out of which, 206 such firms which are referred to as “Unicorn” are from China. The number two spot is held by U.S that is home 203 such firms. Following the two nations are India, UK and Germany that have 21, 13 and 7 unicorns, in respective order.

Rupert Hoogewerf who is the chairman and chief researcher of Shanghai-based Hurun Report, after revealing the 2019 report, made the following statement:

China and the US dominate over 80 per cent of the world’s known unicorns, despite representing only half of the world’s GDP and a quarter of the world’s population. The rest of the world needs to wake up to creating an environment that allows unicorns to flourish.

Noteworthy, three unicorns which inlcude Ant Financial Services, the operator of Alipay; ByteDance, the owner of TikTok and taxi booking company, Didi Chuxing have an astounding comined valuation of $ 280 billion.

Editor’s Pick: Blackview BV9800 Pro vs. CAT S61: Which thermal camera phone is better? (video)

Among cities, Beijing is ranked the world’s unicorn capital with 82 Unicorns followed by San Francisco with 55, Shanghai with 47, New York with 25 and Hangzhou with 19. Having said that, due to the U.S-China trade war, the value of investments in the Chinese country have seen a significant downfall. As investments fell to just $9.4 billion in Q2 of 2019 which is 77% down from last year during the same time frame.

UP NEXT: Qualcomm’s upcoming Snapdragon 735 details leaked

The post China home to most startups with over $ 1 billion evaluation, U.S second and India third appeared first on Gizmochina.