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Europe Overtakes China in Unicorn Creation: WSJ

China has reined in its most successful and freewheeling tech giants while European countries have attracted further investment

A Hong Kong data centre operated by Global Switch, the most valuable Europe-based unicorn. Photo: Global Switch


Europe has overtaken China in creating billion-dollar tech startups, known as unicorns, according to a new analysis that points to the EU’s rising status in the field and the effect of Beijing’s crackdown on entrepreneurialism, The Wall Street Journal reported.

Over the past year, China has reined in its most successful and freewheeling tech giants, leading to a loss of market value that has cast a chill across the whole sector. Europe, meanwhile, has attracted further investment in its expanding tech industry.

Read the full report: The Wall Street Journal.





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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.


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