High-growth enterprise development forum commences in Beijing on new economy development
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Wu Wensheng, general manager of the Great Wall Strategy Consultants, delivers a speech during the forum, on May 9 in Beijing. [Photo provided to chinadaily.com.cn] |
A forum on Chinese high-growth enterprise development was held in Beijing on May 9, which focuses on high-growth of enterprises, cutting edge technology entrepreneurship, and the replacement of old growth drivers with new ones.
More than 300 participants including the heads of unicorn companies, gazelle companies, representatives of investment institutions and science parks, experts and media reporters attended the forum.
Unicorn and gazelle enterprises boasting high growth are typical representatives of the new economy. They take the lead in new technologies, new industries, new business types, and new models, catching eyes of the corporate executives and investors.
2018 Research Report on Chinese Unicorn Enterprises published during the forum showed that the number of Chinese unicorn companies reached 202 in 2018, with a total estimated value amounting to $744.6 billion and an average value of $3.69 billion.
In 2018, 89 enterprises joined in the team of unicorn companies, making the total number exceed 200 for the first time, compared to 164, 131, and 70 in 2017, 2016, and 2015, respectively.
The number of unicorn companies in the frontier science and technology fields increased significantly. Most of them fell in the fields of new generation of information technology represented by artificial intelligence, big data and cloud computing; biomedical fields like new drug R&D and precision medical treatment; and new energy and intelligent networked vehicles.
Last year also witnessed 129 unicorns raising new rounds of funding. Based on the 125 unicorns' publicly disclosed financing information, they obtained over $74 billion in new financing. In addition, 21 unicorn companies were publicly listed.
Shen Haiyin, founder of Singular Auto, Zou Xiaowu, founder of Yeahmobi, Wang Jian, president of FiveStar Holdings, and Liu Changwen, managing partner of Hai Chuanghui (HCH),an entrepreneurial platform for Haier Group, shared their views on high growth and new economy during the forum.
