In 2014, just 14% of the unicorns were based in China. During the last year that percentage has shot up to 35%, while in the U.S., the number of homegrown unicorns has fallen from 61% to 41% of the overall global number. There were four times as many AI-related patent applications and three times as many crypto- and blockchain-related patents registered in China last year.
With a customer base that has extremely high digital adaptability, China has the world’s highest e-hailing and car-sharing numbers, and is leading the global electric vehicle revolution. In Shenzhen, 95% of all taxis are running on electricity. Research shows that Chinese customers are globally most open to experiment with automated taxis (robocabs), and Daimler and BMW have permits to trial autonomous vehicles in Beijing and Shanghai.