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Chinese listed companies reported brisk profit growth in 2016, as they ramped up spending on research and development, with emerging sectors outperforming traditional industries.

Chinese companies have matured in their innovation efforts since the COVID-19 outbreak, and increased their ability to innovate, according to a study by US technology giant Microsoft and market research company International Data Corp.

Chinese entrepreneurs have also in general expressed stronger confidence about the economy in the fourth quarter compared with last year, according to PBOC data.

Chinese companies signed 187 project deals with contract value of more than million in the first quarter of 2020. The total value for these projects reached .74 billion, according to the ministry.

Chinese police will strengthen judicial cooperation with their foreign counterparts to set up a cooperative mechanism to locate, freeze, confiscate and return fugitives' ill-gotten funds.