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.
China’s first batch of mutual funds targeting Shanghai’s Nasdaq-style technology board have sold out quickly, reflecting keen investor interest in the sector and also raising concerns about price bubbles on the new board set to launch as early as June.