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Chinese pharmaceutical and healthcare companies' accelerated steps in going global are also mirrored in the rise of overseas M&As, as well as the spike in international cooperation programs regarding product license-in and license-out.
Chinese investors overpaid in many outbound acquisition deals amid a weakening renminbi in the past years, which raised suspicions of capital flight. This prompted the central government to strictly scrutinize overseas transactions, aiming to balance the outflow and inflow of capital.
Chinese firms have been involved in a number of overseas acquisition deals for foreign chip companies. But such deals, including a bid by Tsinghua Unigroup to acquire US chip group Micron Technology Inc, have been blocked by US regulators in recent years.
Chinese e-commerce giant JD.com reported robust businesses during the Chinese New Year holiday, with fourth-tier and sixth-tier cities leading sales growth of over 60 percent, signs of rising spending power in the country's less-developed areas.
Chinese car-hailing companies are playing an important role in creating jobs, as orders on their platforms recovered rapidly as the COVID-19 outbreak is brought under better control in the nation.