The East Lake High-tech Development Zone in Wuhan, also known as Optics Valley of China, has identified 2 unicorn companies and 11 potential unicorn this year, local authorities said on Thursday.

The Optics Valley has also unveiled 17 measures to foster more unicorn companies.

The term unicorn refers to a privately held startup company with a value of over one billion U.S. dollars.

Currently, the Optics Valley is home to more than 5,200 high-tech companies, 559 gazelle companies, 150 specialized and sophisticated enterprises that produce new and unique products as well as over 20 potential unicorns. It strives to establish 8 to 10 new unicorns and 15 to 20 potential unicorns by 2025. (en.hubei.gov.cn by Zhang Yawei）