The coronavirus pandemic that is raging across the planet has not stopped China’s biggest privately run corporations from soaring in value, the Hurun Research Institute reports.

The average value of the country’s top 500 private enterprises increased by 55 percent to a record $16.5 billion (108 billion yuan) year-on-year, according to a report released by the institute earlier this week.

China’s five biggest technology titans – Tencent, Alibaba Group, Meituan-Dianping, Pinduoduo and JD.com – benefitted from a global stock market rally as the pandemic started receding in the country earlier this year. Each firm added over $100 billion in value over the year. (RT)