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Three Chinese enterprises on Disruptor 50 list

By Zhang Jie | chinadaily.com.cn | Updated: 2019-05-16 13:48

The logo for mobile taxi-hailing and car service app Didi Chuxing is seen in Hangzhou city, East China's Zhejiang province, Sept 4, 2018. [Photo/IC]

Three Chinese companies - Didi Chuxing, Xiaohongshu and Yitu Technology - took the spot in the latest Disruptor 50 list published by the US-based business news network CNBC on Wednesday.

Didi Chuxing, which has 550 million users and more than 31 million drivers, parked itself in the second spot under the China's UBER-disruptor title. Last year, the mobile transportation platform entered Mexico, Australia and Japan, as well as acquired ride-hailing company 99 in Brazil.

CNBC named Xiaohongshu as China's trendspotting app, placing it at 10th spot. The company is the world's largest lifestyle platform with 200 million registered users, and over 70 percent users are young people who were born in the 1990s, according to CNBC.

Yitu Technology, dubbed eyes everywhere by CNBC, took the 20th spot. The company uses artificial intelligence and facial recognition technologies to build security system in cities and help cities digitize data. By 2018, the company has worked with more than 20 provincial public security bureaus to use its technologies in over 300 Chinese cities, according to CNBC.

This year, the 50 disruptors have raised over $46 billion from venture capital, and their total valuation is over $266 billion, with 36 becoming unicorns with their valuations reaching or surpassing billion dollar, said CNBC.

The 50 disruptors feature machine learning, artificial intelligence, cloud computing, Internet of Things, deep neural networks or deep learning and robotics as their core technology.

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