According to the worldwide cheetah index, China comes in at number two.

According to the Hurun worldwide Cheetahs Index 2024, which was published on December 18, China has risen 4% from the previous year to take second place with 304 businesses out of the top 928 worldwide startups.The startups that are most likely to "go unicorns" with a $1 billion valuation in five years are the Cheetahs, which were established in the 2000s.According to Hurun Report chairman and chief researcher Rupert Hoogewerf, the list companies were established within an average of eight years, yet they are already valued at an average of $400 million.With 71% of all cheetah enterprises worldwide, the US and China lead the global cheetah index.In terms of industries, the primary cheetah-related businesses are biotech and healthtech, which are followed by fintech, AI, and enterprise services. Furthermore, more than 25% of businesses have included AI into their main offerings, particularly impacting sectors like cybersecurity, healthcare, and business management solutions.

Over 70 new entrepreneurial firms were established in China in the last year, mostly in the biotechnology, health technology, robotics, semiconductor, and new energy sectors. Forty-five startups had their valuations raised, nine of which were designated "unicorns."With 68 businesses, Shanghai continues to be the top destination for cheetahs worldwide. Beijing has 56 cheetah firms, followed by Shenzhen with 35, Hangzhou with 34, and Guangzhou with 26.