Hong Kong (CNN Business)Chinese tech companies are battling the United States for global supremacy, but they’re still lagging behind where it matters most.
China is home to nearly one-third of the world’s 326 unicorns, or startups worth over a billion dollars, according to a new report this week from Credit Suisse. But US companies have a major edge when it comes to cutting edge fields like artificial intelligence, software and robotics.
Only 14% of Chinese unicorns are focused on those high-tech industries, compared to 40% of their American counterparts, the report said. The United States and China together account for three out of every four unicorns globally, with 156 and 93 respectively.
