Half of China's ten biggest unicorns, or start-ups valued at US$1 billion or above, are financial technology firms. Alibaba-affliated Ant Financial is the biggest unicorn in the country, worth a whopping US$60 billion, followed by peer Lufax at US$18.5 billion, according to a new report by iResearch.
JD Capital-backed P2P (peer-to-peer) lending platform Jiedaibao, China's first online insurer Zhong An Insurance and JD.com Inc.-backed JD Finance are ranked eight to tenth on the top-ten list.
Xiaomi Inc, Didi Chuxing, Meituan-Dianping, DJI and Alibaba-founded Cainiao took up the remaining spots on the ranking.
Across China, there are currently 79 unicorns in total, with 31 new additions this year.
Continue Reading the Entire Article Here >>
