The economic output by China and the US accounts for 40 percent of the world's total, he said at the forum. China accounts for 38.9 percent of the world's total unicorns, while the US has 42.1 percent, according to a joint report by Deloitte and China Venture. There were 164 unicorn enterprises in China by the end of 2017, with a total valuation of $628.4 billion, said the 2017 China Unicorn Enterprise Development Report. Panelists at the forum in Silicon Valley also conducted parallel conversations with their peers in Chengdu, Sichuan province through video conferencing. They compared innovation and unicorn growth in China and the US and proposed deeper and more comprehensive co-operation.