“Unicorn” enterprises represent a new economy’s vitality, a general industrial trend, and a country’s competitiveness. In 2018, changes in the global capital market had brought around reorganization of unicorn groups. Some unicorns had difficulties in financing and lost their crowns; some unicorns had been sought after by capital and made a big gain; some even showed the potential to surpass the traditional Internet giants.

Recently, a team led by the famous economist Ren Zeping released the “China Unicorn Report: 2019” in order to thoroughly analyze the latest development trends of global unicorn enterprises. In this list, Nanjing enterprises have had the most outstanding performance, and account for about 10% of new unicorns nationally. The team believes that the strong innovation vitality and the high attention paid by government policies are the key reasons for the outbreak of Nanjing unicorn enterprises; and the rise of the “Nanjing plate” is a prominent manifestation of the increasing innovation vitality of new first-tier cities in China. 

Compared with the list released by the Ren Zeping team last year, 54 new unicorn enterprises had been added to the “China Unicorn Report: 2019.” In this new, Nanjing had the most outstanding performance with a total of 5 new unicorn enterprises, accounting for about 10% of the national total. The 5 enterprises are Byton Automobile, Suning Sports, ihome, Hosjoy and Huitongda. Byton Automobile’s valuation is 3 billion USD, ranking third in the new unicorn list. The number of new unicorns in Nanjing is only surpassed by Beijing’s 16 and Shanghai’s 6, ranking third in China, surpassing Shenzhen’s 4 and Hangzhou’s 2.