China unicorn creation falls to six-year low as investors play it safe
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HONG KONG (Reuters) - China's rate of creating unicorns has dropped to a six-year low as venture capital funds shy away from early-stage funding while the economic impact of the coronavirus outbreak batters portfolio investments.Only four Chinese startups have reached unicorn status – valued at $1 billion or above - as of May 13, the lowest number for the same period since 2014, showed data from PitchBook.The slowdown comes as many businesses across the country suffer falling sales and tighter..