Listed mainland firms change names in shift to tech

Almost 100 listed firms in China changed their names, often to reflect a shift toward the technology sector, in a strategy that has paid of handsomely amid an ongoing stock market rally, The Financial Times reported. “Companies want to let investors know that they are moving away from original business and into emerging industries. It’s like in the US in the 1990s when every company started calling itself dotcom,” said Huatai Securities equity strategist Yao Weiwei, who said that most name changes are more than just cosmetic.