By the end of 2024, about 67% of China’s unicorn firms, valued at over US$1 billion, were located in national high-tech industrial development zones, according to the Ministry of Industry and Information Technology.

These 178 zones house one-third of China’s high-tech enterprises and 46% of its “little giant” firms, specialized SMEs in niche markets with advanced technologies.

In the AI sector, these zones are home to about 60% of China’s publicly listed AI companies and nearly half of its AI unicorn firms.

In 2024, their total GDP grew by 7.6% year-on-year, while import and export volumes reached 9.5 trillion yuan (US$1.31 trillion), up 2.5% from the previous year.

The government plans to further develop these zones by integrating them with national science and technology resources. Efforts will focus on promoting more unicorn and gazelle companies, said ministry official Wu Jiaxi.