This undated file photo shows a poster of the STAR Market at a securities brokerage in Nanjing, Jiangsu province. (SU YANG / FOR CHINA DAILY)
BEIJING – China's securities market has played a constructive role in guiding capital to promote sci-tech innovation in enterprises, according to a recent report.
The report from the Securities Association of China showed that 481 companies went public domestically last year, raising a total of 592.62 billion yuan
The number of initial public offerings on China's Nasdaq-style sci-tech innovation board (also known as the STAR Market on the Shanghai Stock Exchange) and the tech-heavy ChiNext market on the Shenzhen Stock Exchange accounted for 75.68 percent of the country's total IPOs in 2021, according to the report from the Securities Association of China.
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Specifically, 165 firms listed on the sci-tech innovation board raised about 211.6 billion yuan (US$29.8 billion) via IPOs last year, taking up 35.51 percent of China's total IPO funds raised in the whole year.
The amount of funding raised by 199 ChiNext IPOs stood at 149.4 billion yuan in 2021, accounting for 25.07 percent of the total.
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The report also showed that 481 companies went public domestically last year, raising a total of 592.62 billion yuan.