Beijing Leads Nation with 116 Unicorns Valued at $741.9 Billion; Launches First QFLP Fund of 2026

• Policy support: Beijing’s “Ten Measures for Unicorns” reduce costs in talent settlement and IPO services. The city handles over 300 enterprise development requests annually via its service package mechanism.

• Future pipeline: Beijing is adding benchmark incubators, municipal‑level incubators, and specialised industrial parks focused on emerging future industries to cultivate potential unicorns.

Unicorn landscape

According to the 2026 China Unicorn Enterprise Development Report released in Beijing on March 29, 2026, the city ranks first in China with 116 unicorn companies, representing a total valuation of $741.9 billion. As of December 2025, China had 416 unicorn companies – accounting for nearly 30% of the global total and placing second worldwide.

Policy mechanisms for unicorns

To support unicorn growth, Beijing has implemented the “Ten Measures for Unicorns,” a policy package aimed at reducing business costs in areas such as talent settlement and IPO services. Through its service package mechanism and related alliances, the city provides comprehensive support, handling over 300 enterprise development requests annually. Beijing has also strengthened its cultivation of future unicorns by adding new benchmark incubators, municipal‑level incubators, and specialised industrial parks, with a focus on emerging future industries to nurture potential unicorns. Additionally, the city has built an innovation ecosystem that facilitates connections between unicorn firms and state‑owned and central enterprises, while leveraging government investment funds to provide financing support.

First QFLP fund of 2026

Separately, Beijing's first Qualified Foreign Limited Partner (QFLP) fund of 2026 – the Beijing Prologis Equity Fund – has been established in Xicheng District and officially completed its filing with the Asset Management Association of China (AMAC) on March 26, 2026. The fund has a QFLP pilot quota of RMB 2 billion (approximately $275 million).

Prologis: global logistics real estate manager

Prologis, headquartered in San Francisco, is a global leader in logistics infrastructure and logistics real estate fund management, with operations spanning 20 countries. As of December 2025, its global assets under management reached $215 billion (approximately RMB 1.4 trillion), with a total portfolio area of 120 million square meters.

In March 2025, Prologis (Beijing) Private Equity Fund Management Co., Ltd. was established in Xicheng District with a registered capital of RMB 100 million and completed private equity fund manager registration with AMAC in the same month. One year later, the firm launched this QFLP fund in Beijing – marking a continued expansion of cross‑border equity investment channels in the capital.