BEIJING: China ranked second globally in the number of unicorn companies, or startups valued at more than US$1bil (RM4.2bil), in 2021, with rising unicorns growing to become “decacorns” with a valuation of more than US$10bil (RM42bil), the latest industry report said.

       A report by market consultancy CB Insights said the United States was home to the most unicorns globally last year with the number reaching 488. China followed with 170 unicorns.

       According to the report, 31% of global unicorns are valued at around US$1bil (RM4.2bil) and only 46 global companies are decacorns, among which 10 Chinese companies – including tech firm DJI Innovations, social content firm Xiaohongshu and consumer brand Yuanqi Senlin – made the list last year. — China Daily/ANN