A view of the Huangpu River in Shanghai. [Photo/VCG]

Shanghai revealed its 2024 list of key unicorn enterprises on April 23 featuring 156 selected companies with a combined valuation exceeding 1.2 trillion yuan ($165.62 billion).

These newly unveiled enterprises primarily focus on innovative pharmaceuticals, integrated circuits, medical devices, robotics, artificial intelligence, new materials, and new energy vehicles, highlighting a growing emphasis on technological innovation.

Unicorn enterprises are known for their disruptive and cutting-edge technologies, serving as a driving force for high-quality development and development of "new quality productive forces" – elements and reforms that can propel strategic emerging industries and boost productivity.

Over the past two years, Shanghai has outpaced the nation in adding new unicorn enterprises, particularly excelling in the integrated circuit and biopharmaceutical industries.

The city is positioning itself as a leading center for emerging industry development, with ambitious plans to lead future industrial advancements.

Source: people.cn