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Unicorns see big expansion scope abroad 1 2021-06-29 09:33:08China Daily Editor : Mo Hong e ECNS App Download An employee checks photovoltaic panels at a production facility in Suqian, Jiangsu province, in May. (Photo/Xinhua) Survey: Chinese startups, undaunted by challenges, sewing up growth plans More and more expansion-minded Chinese unicorns, or startups valued at $1 billion or more, are eyeing overseas markets despite growing challenges, according to a new report from Accenture, a global professional services firm. Eighty-two percent of 87 Chinese unicorns surveyed by Accenture said they plan to enter overseas markets within 24 months. And 45 percent regarded overseas expansion as very important for their growth, Accenture said. ....
More and more expansion-minded Chinese unicorns, or startups valued at $1 billion or more, are eyeing overseas markets despite growing challenges, according to a new report from Accenture, a global professional services firm.
Eighty-two percent of 87 Chinese unicorns surveyed by Accenture said they plan to enter overseas markets within 24 months.
Jenny Li, head of Accenture operations in Asia-Pacific, Africa, the Middle East and Turkey, said Chinese unicorns are reaping many growth opportunities by going overseas. Many of them have already developed good businesses in Southeast Asia, Europe and other regions.
According to Li, unicorns have to figure out how to build effective overseas management teams. It is usually best for such teams to have both people from the Chinese headquarters and local talent. ....
May 21—Fourteen-year-old Jenny Li admitted to being "very, very nervous" Thursday afternoon as she went to the Union Health Professional Office Building for her COVID-19 vaccination. The Honey Creek Middle School eighth-grader wanted the vaccine and knows it's important to provide protection from COVID, but still — she worried about possible side effects. While Li received the Pfizer vaccine, . ....