Small- and medium-sized technology enterprises (SMTEs) are fundamental drivers of regional innovation. Understanding their spatial distribution is crucial for optimising resource allocation. This study analyses 4334 gazelle and 283 unicorn enterprises across 110 cities in China’s Yangtze River Economic Belt (2016–2022). Using the Dagum Gini coefficient, hotspot analysis and spatial econometric models, we systematically characterise their spatiotemporal patterns and determinants, contextualised by comparison with the Rhine and Mississippi River economic belts. The findings reveal a composite spatial pattern of ‘gradient differentiation, core anchoring and corridor diffusion’. Inter-regional disparities account for 47.3% of the total variation, with core zones concentrating 65.68% of enterprises. Diffusion along key corridors (e.g., G42 Highway, elasticity 0.8) is significantly stronger than in comparator basins. Mechanism analysis identifies foreign capital, R&D investment and talent as key drivers, while fiscal expenditure exhibits a complex dual effect. Critically, gazelle and unicorn enterprises show divergent locational responses, revealing a ‘dual divergence’ logic shaped by innovation factor prioritisation and ecological embeddedness. This study extends location theory within the innovation economy and provides an evidence base for differentiated SMTE policies in transitional economies.
Ye et al. (Wed,) studied this question.