Chinese unicorns now out-earn US peers by $166B a year

� Chinese unicorns founded since 2010 generate $706B in annual revenue. That is $166B more than comparable US companies.

� Despite this scale, China still has no public company with a market cap above $1T. Private firms like ByteDance are often cited as exceptions, but they are not publicly traded.

The gap highlights a mismatch between revenue strength and public market outcomes. Over time, this difference may narrow as more Chinese firms mature or list.

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