China ranks 2nd as home to start-ups with high-growth potential

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Night view of the Lujiazui Financial District in Pudong, Shanghai. [Photo/Xinhua]

China ranked second globally as home to 171 "gazelle companies," or start-ups with high-growth potentials, according to the Hurun Global Gazelle Index list for 2021.

Gazelle companies refer to those start-ups founded in the 2000s, worth over $500 million and not yet listed on a public exchange. These companies are also most likely to become "unicorns" valued over $1 billion within three years.

Globally, a total of 525 unicorn companies were on the list, according to the list released by the Shanghai-based Hurun Research Institute.

The United States topped the list with 201 gazelle companies in total.

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