Latest news with #Guangzhou
Globe and Mail
9 hours ago
- Business
- Globe and Mail
Hurun Research Institute released the Global Unicorn Index 2025
22 July, 2025 - Guangzhou, Mumbai, and London - The Hurun Research Institute released the Global Unicorn Index 2025, a ranking of the world's unicorns, defined as start-ups founded in the 2000s, worth at least a billion dollars and not yet listed on a public exchange. The cut-off was 1 January 2025, with significant changes in valuation updated up to the date of release. Hurun Research has been tracking unicorns since 2017. This is the seventh year of the Global Unicorn Index. This report includes the Most Successful Unicorn Investors in the World 2025, a ranking of the investment houses that have invested in the most unicorns. Hurun Research found 1,523 unicorns in the world, based in 52 countries and 307 cities. 359 unicorns saw their valuations rise, of which 203 were new faces. 143 saw their valuations drop, of which 52 were 'demoted' as their valuation no longer cut US$1bn. 64 were 'promoted' out of the list, of which 34 went IPO and 30 were acquired. 1,073 saw no change to their valuations. Their total value was US$5.6tn. The world's unicorns are disrupting financial services, business management solutions and healthcare. 77% sell software and services, led by FinTech, SaaS, and AI, whilst 23% have a physical product, led by Semiconductors, New Energy, Biotech, and HealthTech. Hurun Chairman and Chief Researcher Rupert Hoogewerf said: '2025 has been the year of AI. Since the launch of ChatGPT in November 2022, AI startups have rocketed, marking a critical inflexion point. Today, nearly a third of the world's unicorns are AI-related, underscoring its transformational impact across industries. Big Data, SaaS, and FinTech remain the most common sectors for AI-themed unicorns, whilst 128 are pure-play AI companies with a combined valuation nearing US$1 trillion, spanning AI assistants to machine learning platforms, and sector-specific AI applications in healthcare, security, robotics and fintech.' ' SpaceX has become the world's most valuable unicorn, with a staggering US$350 billion valuation, ahead of TikTok-owner ByteDance and OpenAI. It's the first time a space exploration company has led the pack.' 'No company encapsulates the 2020s unicorn boom quite like OpenAI. Two years ago, OpenAI was valued at just US$20 billion; today, it's US$300 billion. That jump in valuation in just two years is the fastest we've ever seen, driven by the revolutionary potential of generative AI.' 'Some founders don't stop at one unicorn. With xAI, Elon Musk is now the founder or co-founder of three of the world's four most valuable unicorns, as well as Neuralink (US$8bn) and The Boring Company (US$7bn) – a testament to how one visionary entrepreneur can repeatedly create massive value in completely different industries. Five have founded three unicorns and 33 have founded two.' 'When it comes to unicorns, the world can essentially be split into three regions: the US, China, and the Rest of the World. The US accounts for half of all unicorns, China a quarter, and the remaining quarter is spread across dozens of other countries, led by India and the UK. Surprisingly, perhaps, the EU countries together have just over 112 unicorns, less than 8%, despite contributing to 20% of the world's GDP. Each region has its strengths – American unicorns are heavy in SaaS, FinTech and AI, China's in AI, Semiconductors and Renewable Energy, while the rest of the world leans towards FinTech and E-commerce – reflecting different regional innovation focuses.' 'The United States is in a league of its own with 758 unicorns – fully 50% of the world's total. California alone is home to 396 companies valued at a combined US$2.1tn. The East Coast, led by New York with 141 unicorns, Massachusetts with 44 unicorns and Florida with 15 unicorns, continues to thrive in FinTech, Healthcare, and Enterprise Software. The Midwest, while smaller in count, shows growth in states like Illinois, with 15 unicorns, and demonstrates increasing startup momentum beyond coastal hubs. States like Texas, with over 32 unicorns, Colorado and Washington are emerging as strategic tech centres, boosted by talent migration and business-friendly environments. This dispersion indicates a maturing innovation landscape where startup ecosystems are flourishing across diverse regions, not just Silicon Valley.' About Hurun Inc. Promoting Entrepreneurship Through Lists and Research Oxford, Shanghai, Mumbai Established in the United Kingdom in 1999, Hurun is a research and media group, promoting entrepreneurship through its lists and research. Widely regarded as an opinion-leader in the world of business, Hurun generated 8 billion views on the Hurun brand in 2023, mainly in China and India, and recently expanded to the UK, US, Canada, and Australia. Best known for the Hurun Rich List series, telling the stories of the world's successful entrepreneurs in China, India, and the world, Hurun's other key series focus on young businesses and entrepreneurs, through the Hurun Unicorns Index, two Hurun Future Unicorns indices, the Hurun U th series, and the Hurun Pioneers series. Hurun has grown to become the world's largest list compiler for start-ups, ranking over 3000 start-ups across the world through its annual Hurun Global Unicorns Index (startups with a valuation of US$1bn+), and two Hurun Future Unicorn Indexes: Gazelles, most likely to 'go unicorn' within three years, and Cheetahs, most likely to 'go unicorn' within five years. The Hurun Pioneering Young Startups and Entrepreneurs series focuses on startups set up within the last ten years and founders aged 45 or under. The Hurun U th series includes the Under25s, Under30s, Under35s, and Under40s awards, representing the cream of each generation of young entrepreneurs who have founded businesses with a social impact and worth US$1m, US$10m, US$50m, and US$100m, respectively. Other lists include the Hurun 500 series, ranking the most valuable companies in the world, China and India, the Hurun Global High Schools List, ranking the world's best independent high schools, the Hurun Philanthropy List, ranking the biggest philanthropists and the Hurun Art List, ranking the world's most successful artists alive today. Hurun provides research reports co-branded with some of the world's leading financial institutions and regional governments. Hurun hosts high-profile events across China and India, as well as London, Paris, New York, LA, Toronto, Vancouver, Sydney, Luxembourg, Istanbul, Dubai, and Singapore. For further information, see or For media inquiries, please contact: Hurun Report Porsha Pan Mobile: +86-139 1838 7446 Email: Ke Zhang Mobile: +86-139 6432 2777 Email: Media Contact Company Name: Hurun Report Contact Person: Porsha Pan Email: Send Email Country: United Kingdom Website:
South China Morning Post
19 hours ago
- South China Morning Post
Hong Kong high-speed rail services disrupted by equipment malfunction
Four high-speed rail services between Hong Kong and Guangzhou were cancelled on Tuesday due to equipment malfunctions on the mainland section, according to the transport authorities. The Transport Department said on Tuesday that the cancelled train services to Guangzhoudong included the G6568, which was scheduled to depart at 11.42am, and the G6556, scheduled for 12.22pm on the Guangzhou-Shenzhen-Hong Kong Express Rail Link. Services to Hong Kong's West Kowloon terminus that were affected included the G6565, which was due to arrive at 11.19am, and the G6553, due in at 11.54am. The department advised residents to check the latest train schedules on the official ticketing platform – the 12306 website and its app – as well as the MTR Corporation's high-speed rail website. 'Passengers may also consider taking the [MTR's] East Rail line to Lo Wu or Lok Ma Chau or using other transport to enter the mainland,' it said. A check by the Post on the 12306 app showed that high-speed rail tickets from Hong Kong West Kowloon to Guangzhoudong were available for booking, with seven trains departing between 2.14pm and 8.50pm.
Yahoo
2 days ago
- Automotive
- Yahoo
China's low-altitude aviation gets major boost with new wind tunnel testing facility
China has reportedly started operations on its first compounded wind tunnel dedicated to low-altitude aircraft testing in Guangzhou, Guangdong Province. Developed by Guangdong Aerospace Research Academy (GARA), the development is being seen as a major milestone for the low-altitude aviation sector—especially drones and urban air mobility vehicles. A composite wind tunnel is a controlled testing facility that simulates flying conditions by blowing air over a fixed model of an aircraft or drone. The structure enables engineers to study aerodynamics (the movement of air around an aircraft) and optimize control systems and flight performance. Wind tunnels are very useful for safely testing aircraft designs and estimating factors such as wind resistance. They also enable testing to be completed faster and more economically than real-world outdoor test flights. The new wind tunnel, it is reported, has been specially designed to test low-altitude aircraft. To this end, it is tailored for drones, air taxis, and other low-altitude flyers, which are increasingly important for logistics, urban transport, and surveillance. Integrates traditional tech with 'windshaper' system The tunnel is China's first 4.5-meter class, making it big enough to test medium-sized drones or small crewed aircraft, while still being efficient for rapid testing cycles. The structure will also foster quicker local testing, alleviate waits of up to a year at facilities like the one in Harbin, which is far away and overbooked. "There were companies that waited for over a year for a testing slot in Harbin. Now, with the wind tunnel launched in the Greater Bay Area, the entire process for wind tunnel experiments, from coordination to testing, takes just three to four months," said Shang Zuming, the director of the wind tunnel testing platform at GARA. "We fix the aircraft to a test platform and let the air flow, creating a relative movement and simulating the conditions of flight in the sky to measure technological parameters," explained Sun Liangbao, head of wind tunnel technology at the Guangdong Aerospace Research Academy. The new composite wind tunnel integrates traditional aviation wind tunnel system with 'windshaper' technology. This can be likened to a dynamic airflow system optimized for smaller and more agile drone testing. This dual function makes it a hybrid platform, marking the first of its kind in China while slashing research time and development costs. Fostering quicker deployment of new flight technologies GARA is planning a 'Bay Area No.1' data-sharing platform to streamline testing and promote collaboration among companies and research institutions. Considering the broader perspective, the Guangdong–Hong Kong–Macao Greater Bay Area is a national priority for high-tech innovation. This will prove critical, as drones and low-altitude aircraft are a major focus of economic growth in China. To this end, this new facility helps bridge the gap between lab-based R&D and real-world deployment. According to local reports, it will also support faster commercialization of new flight technologies, including autonomous drones. Looking at the bigger picture, the new wind tunnel marks a pivotal step in accelerating China's low-altitude aviation ambitions by turning aerodynamic theory into flight-ready reality. Solve the daily Crossword
Bloomberg
4 days ago
- Business
- Bloomberg
Hong Kong's Belon Rides Bistro Renaissance With Young New Chef
Hong Kong isn't lacking for polished French bistros, and as the competition sharpens, Belon is looking to gain an edge with a change in the kitchen. At just 29, Istanbul-born Mina Güçlüer has stepped into the role of head chef, making her one of the youngest to lead a top restaurant in the city, and among a small number of women running Michelin-starred restaurants in Asia. Her imprint on the menu is showing up in the form of cooking rooted in French technique that incorporates local ingredients and elements from her Turkish background. That's most apparent in her East-West twist on the roast duck: sourced from Guangzhou, dry-aged for 14 days, and served with apricot and bulgur wheat. The dish anchors Black Sheep's monthly 'Plated' deal, an early-week prix fixe menu at HK$428 ($55) per person.
Malay Mail
5 days ago
- Climate
- Malay Mail
China's power grid on edge as record heat drives energy demand to breaking point
BEIJING, July 17 — Days of record-breaking heat across large swathes of China pushed power demand to an all-time high in excess of 1.5 billion kilowatts on Wednesday, energy officials said, with temperatures forecast to feel like 50 degrees Celsius (122 degrees Fahrenheit) in some areas on Thursday. An arc of sweltering heat stretching from the densely populated city of Chongqing in the southwest to Guangzhou on the coasthas enveloped an area home to over 200 million people in recent days. A subtropical high pressure system, which causes warm and dry weather, drove temperatures at eight weather stations in the northwest and southwest of China to record highs in the last two days, state media said on Thursday, citing national weather authorities. 'The power system is holding up so far,' said Chim Lee, a senior energy and climate change specialist at the Economist Intelligence Unit. 'But the real test will come as the summer wears on, and there are still risks of potential power rationing,' he added. Solar energy accounted for half of June's surge in power generation. Hydropower output nationwide was up on 2023, though still lower than the corresponding 2022 period, Lee said. China's National Energy Administration flagged a 'record high' on Wednesday in the country's electrical load for the third time this month. That was an increase of 55 million kilowatts over last year's maximum. Provincial records have also been broken 36 times since summer began in the world's second-largest economy. In some parts of the central provinces of Hubei and Hunan, which are the same size as Italy and Britain, respectively, apparent temperatures - a measure of how hot the combination of temperatures, humidity and wind make people feel - were forecast to reach as high as 50 C on Thursday. Similar apparent temperatures were also expected in the southern provinces of Jiangxi and Guangdong - home to populations equivalent to those of Spain and Mexico. Besides scorching croplands and eroding farm incomes, higher temperatures can affect manufacturing hubs and disrupt operations in key ports, straining overburdened healthcare. But the scorching heat is also giving consumer spending a boost. Sales of air conditioners and handheld fans have surged 112 per cent and 103 per cent month-on-month, respectively, according to Chinese e-commerce giant The catering sector has also seen a notable rise in demand, as people seek out cool refreshments. 'It could improve consumer sentiment as it is helping sales of air conditioning, which is a big household appliance,' said Dan Wang, China director at Eurasia Group in Singapore. 'And the services sector can expect to get a boost, as people escape the heat by going to watch a movie.' 'Sanfu Season' The heat is expected to persist. China's 'Sanfu Season' — an agricultural marker believed to have been in use for over two millennia — typically begins in mid-July and lasts through late August, denoting the peak of summer. It is forecast to run from Sunday to August 19 this year. In response to the early high temperatures, state broadcaster CCTV last week spotlighted a tradition of people sleeping with wax gourds, vegetables considered effective in absorbing body heat. Over the past decade, the southern province of Jiangxi has experienced an annual average of 21.7 days of temperatures above 28 C, up from five to seven at the turn of the century, state media added. There is a chance of some respite, however. Weather forecasters expect temperatures to begin easing from Monday, as a tropical depression east of the Philippines may strengthen into a tropical storm expected to be named Wipha, and track across Taiwan toward southern China. However, the low-pressure system could be blocked from advancing north by the subtropical high, keeping air conditioners running at full tilt and further straining the power grid. — Reuters
