Hong Kong (CNN Business) Chinese tech companies are battling the United States for global supremacy, but they're still lagging behind where it matters most. But US companies have a major edge when it comes to cutting edge fields like artificial intelligence, software and robotics. Only 14% of Chinese unicorns are focused on those high-tech industries, compared to 40% of their American counterparts, the report said. The United States and China together account for three out of every four unicorns globally, with 156 and 93 respectively. "China's scientific research, especially basic research, is still in a catch-up phase," said Vincent Chan, Credit Suisse's head of China equity strategy.

Source: CNN March 28, 2019 14:26 UTC