Economic Watch: Listed firms reveal stocky Chinese real economy******
BEIJING, Nov. 14 (Xinhua) -- As one of the key bellwethers of the real economy, listed firms in China have shown resilient growth amid a complex environment at home and abroad, with research and development (R&D) being the major driving force of their performance.。
As of Oct. 31, a total of 4,168 listed companies on the Shanghai and Shenzhen stock exchanges had disclosed their third quarter reports for 2021, with over 80 percent of them making profits.。
"In the third quarter, performance indicators including revenue and profits continued to improve," said Liu Xiangdong, a researcher with the China Center for International Economic Exchanges.。
In the first three quarters of this year, companies on the main board of the Shanghai bourse reported a total operating income of 33.44 trillion yuan (about 5.22 trillion U.S. dollars), an increase of 21.43 percent year on year.。
In Shenzhen, the average operating revenue of listed companies amounted to 5.15 billion yuan during the Jan.-Sept. period, up 28.2 percent from a year ago. Their average net profits reached 365 million yuan, up 20.93 percent year on year.。
The steady development of the companies is propelled largely by their focus on R&D.。
"Listed companies have been increasing their investments in R&D, and those with strong R&D capabilities have better business performances and anti-risk capacities," Liu said, citing the growth momentum in industries such as advanced manufacturing, green and low-carbon, and modern services.。
For instance, the total R&D investment of companies on the sci-tech innovation board, commonly known as the STAR market, reached around 37.67 billion yuan in the first three quarters of this year, rising 40 percent year on year and approaching the total investment amount of last year.。
With most listed firms seeing positive performance, there are still some facing operational risks due to rising commodity prices and the sporadic resurgence of COVID-19, said Yang Delong, chief economist with First Seafront Fund.。
To help small and mid-sized enterprises reduce their tax burden and confront the challenges, the government has promptly introduced supportive policies such as inclusive finance and direct fiscal funds.。
"The financial reports of listed firms exhibit the process of China's economic transformation and upgrade. With robust performance of the new economy, new technologies and new energy, listed firms are expected to achieve long-term profitability and high-quality development," said Tian Lihui, a professor of finance at Nankai University. Enditem。
Renowned US wildlife park launches first Chinese New Year celebration******
San Diego Zoo Safari Park on Saturday kicked off its first Chinese New Year celebration in its 50-year-long history.
During the two-day celebration of the Year of the Tiger, a Chinese zodiac animal, guests can discover such activities as Chinese New Year good fortunes, Asian-inspired food, engaging experiences with wildlife care specialists and adorable animals in the park.
Guests are also invited to tie red ribbons written with their wishes to the trees in the park's Tiger Trail and will receive red envelopes and small gifts from the Consulate General of China in Los Angeles, including souvenirs of the Beijing Olympic Winter Games.
Located in the city of Escondido in the US state of California, the 1,800-acre wildlife park, home to more than 3,600 animals representing over 300 species, welcomes more than 1 million guests each year. A Chinese New Year celebration is also being held in its sister park, the San Diego Zoo.
Sending his greetings to those celebrating the arrival of the Chinese New Year, Paul Baribault, president and CEO of San Diego Zoo Wildlife Alliance, operator of the parks, said during the launching ceremony that the wishing trees will be planted in Tiger Trail and "marked with a commemorative plaque honoring this day and our long-term friendship with our Chinese conservation partners."
"May these trees tell a story of our collective power to create positive change, forge lasting friendships, and recognize the beauty in the diversity of our world," he said.
Baribault praised the joint efforts by the alliance and its Chinese partners in contributing to breeding and protecting giant pandas.
In 1996, a female panda named Bai Yun, meaning white cloud in Chinese, arrived at the San Diego Zoo and soon gained in popularity. In 2019, she and her sixth cub Xiao Liwu, meaning a small gift in Chinese, returned to China.
Chinese Consul General in Los Angeles Zhang Ping, who also attended the launching ceremony, thanked the alliance for holding the Chinese New Year celebration, saying it enables the public to feel the strength and vitality of the real tigers in close range, and better understand the symbolic meaning that the Year of the Tiger carries.
"As the Beijing Winter Olympics motto goes, 'Together for a Shared Future,' we hope our two peoples will come together and work together to build a better future for the world," he added.