Ten Chinese companies with venture capital backing have become unicorns this year some racing past the initial $1 billion mark and generating valuations as large as $12 billion. Bikesharing startups Mobike and Ofo have pulled in $2 billion this year alone, with the latter in negotiations to raise $1 billion from SoftBank and Didi Chuxing.

The country's 10 startups make up about one-third of the unicorn class of 2017, while US-based companies occupy almost two-thirds. Still, the Chinese group has managed to take in about 44% of overall capital invested in 2017's unicorns. This year alone, China's newest unicorns have grabbed nearly $5 billion in combined funding.

2017 could end up being a peak year for VC funding in China-based companies, thanks to enormous vehicles like SoftBank's $93 billion Vision Fund, as well as the biggest names in Chinese venture activity: Sequoia, Matrix Partners, Tencent, IDG Capital and more.