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Apollo Intelligent Travel Technology (Guangzhou) Co Ltd, a subsidiary of Baidu Apollo, won the bid of an intelligent transport project regarding self-driving and vehicle road coordination, which is valued at nearly 460 million yuan ( million), in the Huangpu district of Guangzhou.

Apart from farm-sector drones, DJI has unveiled the Matrice 200 drone series, designed for professional use. Its applications are in aerial inspections and data collection from offshore oil rigs, wind turbines, power lines, telecommunication towers and bridges.

Another important impetus to growth will be Asian countries' willingness to embrace technology and cultivate innovation, as part of their broader push to advance economic restructuring, said Zhou Wenzhong, former secretary general of the 2018 Boao Forum for Asia.

Apart from urban management, public transportation networks in second- and third-tier cities are not as developed as first-tier cities — where taxi costs are very high — so customers would prefer shared electric bicycles in these cities, Feng said.

Another 33 unicorn companies, those valued at billion or more and not yet listed, were added to the unicorn list in the first quarter in China, according to a report by the Hurun Research Institute.