Companies listed on Chinese A-Share market through initial public offerings and the funds raised hit a record high in 2021. (PHOTO / IC)
BEIJING – Enterprises listed on the Chinese A-share market through initial public offerings and the funds raised hit record high this year, as the registration-based system has stimulated the market's vitality, the China Securities Journal reported Wednesday.
As of Tuesday, total 508 companies were listed on the Chinese A-share market, up 16 percent from the annual figure in 2020, the newspaper reported citing data from financial information provider Wind.
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China rolled out a slew of reform measures including the revision of the securities law, the implementation of a registration-based system and the debut of the BSE in 2020
The A-share market raised 527.3 billion yuan (about $82.77 billion), increasing by 9.7 percent compared with the total deal size of last year.
Over 70 percent of IPOs were issued through the registration-based system, with 386 firms listed on the Nasdaq-style sci-tech innovation board, the ChiNext board and the Beijing Stock Exchange (BSE), according to the news report.
The country has rolled out a slew of reform measures including the revision of the securities law, the implementation of a registration-based system and the debut of the BSE.
This marks the beginning of a new era for the Chinese capital market, said He Zhaofeng, a managing partner of EY Greater China. The capital market's role in serving the real economy and promoting industrial transformation is becoming increasingly important, the report noted.
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The number of IPOs on the Chinese A-share market is expected to further increase in 2022 due to the smooth operation of the BSE, sci-tech innovation board and the ChiNext board, and more reform measures of the registration-based system, stated a report by the international consulting firm Deloitte.