Business
Chinese internet giant NetEase Inc. posted net revenue of 73.67 billion yuan (about 11.4 billion U.S. dollars) in 2020, up 24.4 percent year on year.
While the large number of companies queuing for IPO review on the Shanghai and Shenzhen stock exchanges reflects China's economic transformation and high-quality development, it also reflects the effectiveness of capital-market reform and confidence in the capital market, China's top securities regulator said Friday.
China's two major bourses on Friday announced board-transfer regulations for companies listed on China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board."
STOCK INDICES
Shanghai Composite 2789.25 3.40% 16/03
Shenzhen Composite 10253.28 5.34% 16/03
Hang Seng 23063.57 4.03% 16/03
Nikkei Average 17002.04 2.46% 16/03
Dow Jones 20188.52 12.93% 16/03
Nasdaq 6,904.59 12.32% 16/03

 

The Chinese Lunar New Year holiday has traditionally played an important role in driving consumption, especially tourism. However, the week-long holiday this year witnessed different consumption patterns as people were encouraged to "stay put" to prevent the spread of COVID-19.
The blossoming stay-at-home economy is likely to break new ground for growth and market size in China, as people have been encouraged to stay where they are for the annual Spring Festival holiday to stem the spread of the COVID-19 epidemic.
A growing number of multinational companies are foraying into China's esports sector, vying for a piece of the booming market topping the world with more than 20 billion U.S. dollars in revenue and hundreds of millions of avid players.
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