Briefly

Key project of CR24 in full swing

The concrete laying work of major piers of the Xin Anjiang Bridge, part of the Jinjian High-speed Railway project, concluded recently, marking another milestone of the ongoing railway project. Built by China Railway 24th Bureau Group Corp Ltd (CR24), the Jinjian railway is to connect Jinhua and Jiande of Zhejiang province. The trunk line is 65 kilometers long and is expected to bring economic and social benefits to the regions along the line. State-owned builders are helping execute key infrastructure projects nationwide. CR24, a unit of China Railway Construction Corp, is leveraging its edge in various key infrastructure projects to not only drive up local economic growth but improve the livelihood of the people.

Ant's Alipay to offer NBA China content

Chinese tech heavyweight Alibaba's financial arm Ant Group announced on Tuesday that it has entered a comprehensive strategic partnership with NBA China that would see the two parties cooperate in areas like video content, program broadcasting and membership. The collaboration marks the first time that fans in China have access to NBA video content on Alipay, the popular payment app owned by Ant Group, and makes Alipay the strategic partner of NBA China in the field of digital life.

Reverse repos inject liquidity into system

The People's Bank of China, the country's central bank, conducted 150 billion yuan ($21.88 billion) of seven-day, 2 percent reverse repos on Tuesday to keep liquidity in the banking system reasonable and ample.

Chinese TMT IPOs surge in H2 last year

Initial public offerings of technology, media and telecommunications companies on the Chinese mainland surged in the second half of 2022, according to data from global auditing and consultancy firm PwC. The number of listed TMT companies stood at 124 during this period, 56 more than that in the first half of the year, raising about 133.5 billion yuan ($19.58 billion), PwC said. Data showed that 39 companies got the green light on the tech-focused STAR Market, raising 74.1 billion yuan, and another 35 listed on the startup board ChiNext, raising 40.2 billion yuan.

Xinhua - China Daily