Staying with the online sector. Chinese streaming platform iQiyi is poised to list on the Nasdaq in New York in less than half an hour. iQiyi has priced its initial public offering at 18 dollars per share. The Netflix-like video platform plans to raise a maximum of 2.7 billion US dollars.

The company said it intends to use half of the net proceeds from the offering to expand its content offerings. IQiyi had about 60 million subscribers by the end of February. IQiyi is majority-owned by Chinese internet giant Baidu and the later will continue to be the iQiyi's controlling shareholder. IQiyi's total revenues stood at 17 billion yuan in 2017, up about 55 percent year on year. Membership service fees provided 37.6 percent of iQiyi's revenues in 2017. The rest came from areas such as online marketing, syndication and gaming. It reported a net loss of 3.74 billion yuan for 2017, compared with a 3.07 billion yuan loss a year earlier.