All enterprises in China – including unicorns – faced a tremendously challenging environment in the early months of 2020 as the COVID-19 pandemic first impacted China’s economy. But the fact that our survey found just 38% of unicorns felt the pandemic had a significant impact speaks to the success of China’s containment measures and its V-shaped economic rebound in 2020. There is a sense that the public health crisis unleashed opportunities: as Exhibit 1 shows, among unicorns that said the pandemic did have a significant impact, more than half (51%) believed the positives outweighed the negatives, while just
one-quarter felt the opposite.
All enterprises in China – including unicorns