Tian Wei
14:05, 13-Mar-2018
China's gaming giant NetEase heeds the call to bring more listings home
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By CGTN's World Insight
To encourage innovation and transformation of the Chinese economy, a new generation of members of the Chinese People's Political Consultative Conference (CPPCC) has become the backbone of the country's top political consultative body. Ding Lei (or William Ding), founder and CEO of NetEase, is one of them.
Established in 1997, NetEase was a key pioneer in the development of Internet services for China. Today, NetEase develops and operates some of China's online PC and mobile games, advertising services, email services and e-commerce platforms. It is one of the largest Internet and video game companies in the world.
The company has a two billion yuan (around 315 million US dollars) fund set up to purchase the US gaming and VR firms, alongside a plan to spend four billion yuan (630 million US dollars) on the development of a new headquarter in southern China's Guangzhou City. Ding said NetEase is now joining the wave of overseas-traded Chinese firms looking to come home with listings with backing from China.
"This is the Chinese government supporting local companies. Eighteen years ago we listed in Nasdaq, but that is not our main market. The NetEase market is mainly focused on China. Almost every Chinese [gamer] is our user. When we come back to China, I think every Chinese [gamer] can be our shareholder [in a way]."
World Insight With Tian Wei is a 45-minutes global affairs and debate show on CGTN. It airs weekdays at 10:15 p.m. BJT (1415GMT) with rebroadcasts at 4:15 a.m. BJT (20:15GMT)