Guizhou unicorn company ranks top 14 in China

Unicorn company representatives receive certificates at the GEI's report on China unicorn companies release conference. [Photo/gog.cn]

Manbang Group, China's largest Uber-like freight service provider and Guizhou's only unicorn company, ranked 14th in a report on China's unicorn companies released by the Greatwall Enterprise Institute (GEI) in Beijing on May 9.

Unicorn companies refer to privately held startup companies valued at over $1 billion. It features rapid growth and innovation as among the main characteristics representative of successful enterprises in the new economy.

Unicorn companies play a key role in promoting technological innovation, leading industrial development, and empowering China's high-quality economic development.

According to GEI's report, Manbang Group ranks 14th among China's unicorn companies in 2018. [Photo/gog.cn]

According to the report, China had 202 unicorn companies valued over $744.1 billion last year, an average value of $3.68 billion per company, with 89 newly added unicorn companies.

The top five fields for unicorn companies were e-commerce, smart logistics, entertainment, AI, and new energy and smart connected vehicles.

Compared to 2017, unicorn companies saw a significant increase in the fields of AI, smart logistics, big data, as well as thenew energy and smart connected vehicles.