China created a unicorn every 3.8 days in 2018

China fostered 97 unicorns – start-ups valued at least US$1 billion – last year, despite an economic slowdown and a prolonged trade war with the United States, according to Shanghai-based research firm Hurun Report.

The world’s second largest economy had a total of 186 start-ups last year, with a combined valuation of more than 5 trillion yuan (US$736 billion).