Tencent this week became the first Asian firm to enter the club of companies worth more than $500 billion.
At stake for firms such as SenseTime Group, Face++ and DeepGlint, is a multi-billion dollar global public and private market
The deal arrives after Lenovo posting about a lower quarterly profit on continued difficulty in the global PC market.
A previous round of financing last December valued Face++, a Beijing-based start-up behind Alipay's "scan your face to pay" function, at $2 billion.
The move forms part of a restructuring exercise.
At a time when the financial hub continues to struggle to boost entrepreneurship.
Both will also explore investment in auto-related e-commerce, new energy cars and auto insurance
One investor named by Unicom in the fundraising -- rail equipment maker CRRC Corp Ltd -- denied involvement in the deal.
Sunac invested 15b yuan in LeEco earlier this year.
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