Xiangzhou District, Zhuhai

A strategic cooperation agreement was inked between the Zhuhai government and China Bridge Capital (Beijing) on March 26, aiming to build up a global headquarters base for unicorn companies in the city.

Both sides will cooperate to attract and foster more unicorn companies as a step in building up a modern economic system.

A "unicorn company", by definition, is a startup valued at more than $1 billion. Focusing on high-tech industries or engaging in innovative business modes, most unicorn companies help invigorate the country's technological innovation and foster the new economy.

Yinlong Energy Co, a Zhuhai-based high-tech enterprise, joined the list of unicorn companies with its booming development in new energy automobile and energy storage systems, according to a recent report released by the Torch High Technology Industry Development Center under the Ministry of Science and Technology.

The list surveyed 164 unicorn companies with a total estimated value of $628.4 billion. Yinlong, valued at $1.95 billion, is the only one in the city of Zhuhai on the list.

According to the Hurun Greater China Unicorn Index 2017 released on Dec 21, 2017, another Zhuhai startup, a smartphone designer and maker -- Meizhu – was included on the list with an estimated value of 30 billion yuan ($4.79 billion).

As China's policymakers pledged to shift the focus onto strategic industries such as new-generation information technologies, high-end equipment manufacturing, digital economy, new materials, and bio-medicine, Zhuhai made a timely response.

To create and optimize a growth environment for unicorn companies, Zhuhi has pushed out a series of measures, including introducing more talents, bettering government services and improving the market system.

Coordinated efforts among various participants will be made in recognition of the huge potential of startups in the city, Zhuhai Daily reported.

Meizu, a Zhuhai-based smartphone manufacturer, is included on the list of Hurun Greater China Unicorn Index 2017 with an estimated value of 30 billion yuan ($4.79 billion). The report was released on Dec 21, 2017. [Photo courtesy Meizu company website]