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Jiaxing ranked third among cities in East China's Zhejiang province for the number of unicorn companies — startup enterprises with a valuation of over $1 billion, according to a provincial list released at the 10th All Blossom Conference in Hangzhou on April 23.

The conference also unveiled lists of seed unicorns and the top 100 future unicorns, reflecting progress in regional innovation and enterprise cultivation. As of April 2026, Zhejiang was home to 58 unicorn companies spread across seven cities: Hangzhou, Ningbo, Jiaxing, Jinhua, Shaoxing, Taizhou, and Wenzhou, with Hangzhou, Ningbo, and Jiaxing occupying the top three positions.

Zhou Kaibing, vice-president of the China Association for the Promotion of Investment, noted that unicorn companies play a key role in driving industrial upgrading, supporting the shift toward technology-driven, intelligent, and green development. This year, Zhejiang added nine new unicorns, marking the highest annual increase in recent years.

The pipeline of emerging firms also expanded, with 38 new entrants to the future unicorn top 100 list and 48 to the seed unicorn category, highlighting the province's success in building a structured innovation ecosystem.