When American investor Aileen Lee coined the term ‘unicorn’ in Silicon Valley in 2013 she introduced 39 firms that were valued at $1 billion or more. Not one of them was Chinese. Today there are at least 200 claiming unicorn status from China or nearly half of the total herd worldwide.

Top 50 China Unicorns outlines the leaders in the group with brief profiles of each of the companies. A summary of the ranking can be downloaded here.

Some names will sound familiar, others less so. But here’s our breakdown of the biggest of China’s unicorns, plus a look at the sectors where they are being created. And here’s a review of the leading investors in the unicorn world.

Read on for more on each of the top 50 unicorns below. The ranking was compiled in February 2021.

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