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AppLovin, which claims to be a profitable unicorn-a startup with a valuation of more than billion-also disclosed that it is looking for an initial public offering of about billion next year.

Apart from Johnson & Johnson, other leading multinational pharmaceutical firms have also been stepping up utilization of Chinese innovation and R&D resources through cooperation with local innovation forces, and establishing innovation hubs.

Another major reason is better accessibility to the internet in Shanghai. Net speed and stability are the primary requirements for gamers. According to a report released by Beijing-based Broadband Development Alliance in November, Shanghai leads the country in terms of internet speed. The city has retained the No 1 position since the institution released its first report in 2013.

Any attempt to cut global supply chains due to the epidemic, or any support for transferring or decoupling them is unrealistic and unwise, Geng said.

Another PBOC poll of over 3,000 bankers showed the banker confidence index rose 2.8 percentage points from Q4 2017 to 81.9 percent in Q1.