The stock exchanges in Chinese mainland and Hong Kong maintained strong performance in the first three quarters of this year, said a latest report from consultancy company Deloitte China on Wednesday.
By the end of this month, 293 new firms will be listed on Chinese mainland stock market to raise 355 billion yuan, a surge of 131 and 153 percent, respectively, compared with the same period of last year.
Shanghai Stock Exchange took the first spot on the number of new issues, 179, and financing amount, 274.7 billion yuan, said the report. Moreover, Shenzhen Stock Exchange witnessed 114 new issuing to raise 80.3 billion yuan.
Hong Kong Stock Exchange is expected to issue 99 new stocks with the total financing of HK$213.8 billion by Sept 30, with the figures rising 1 percent and 67 percent, respectively, year-on-year.
Deepening reform of China's capital markets and geopolitical tensions have prompted the new issuing to return the Chinese mainland and Hong Kong although the markets have been impacted by the COVID-19 pandemic, said the report.
Moreover, the rapid control of pandemic in the Chinese mainland, which makes the market optimistic about China's economic development, boosted flush liquidity to complete a number of super-large new listings, the report said.
The wrinkle factors including the registration-based system implementing on ChiNext, and the ETF Connect between Hong Kong and the Chinese mainland will continue to promote firms to list on the Chinese mainland and Hong Kong stock markets, said the report.
The Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, will attract 140 to 170 new issuing with the financing amount hitting 320 billion yuan, or even surpassing 400 billion yuan by the end of 2020.
In addition, the new IPOs on the ChiNext are expected to reach 120 to 150 to raise 100 billion yuan to 130 billion yuan, respectively, while the new issuing on A-share market and the Shenzhen SME (small- and medium-sized enterprises) Board will be 120 to 150 with the financing amount at 130 billion yuan to 160 billion yuan, respectively.
The Hong Kong Exchange Stock will complete 140 new issuing to raise HK$400 billion by the end of this year. In the fourth quarter, two or three mega IPOs will be launched on Hong Kong market, said the report.
- China to further relax market access for cross-border trade in services
- Six suspects arrested in HK for role in SE Asia job scam
- Chinese mainland suspends entry of certain fruits, fish products from Taiwan
- Chinese mainland suspends natural sand exports to Taiwan
- RCEP facilitates ASEAN products’ access to Chinese market
- AC352 helicopter cleared to enter market
Popular Videos
Hot comments
- First apes at U.S. zoo receive COVID-19 vaccine made for animals, zoo official says
- China Life: Chinese women shine with She Power
- Foreign firms approved to offer VPN services in capital
- Homemade curling videos trending in China
- 86-year-old grandma in Hebei spends most her life on traditional cheongsam
- Winners of 2022 Inaugural WLA Prize announced
- Lantern Festival: A romantic celebration in China
- Two Chinese COVID-19 vaccine firms to supply vaccines to COVAX
- Media center for 20th CPC national congress to open on Oct. 12
- Six suspects arrested in HK for role in SE Asia job scam
Top Reviews
- Young artists recreate beauty of traditional Hanfu costume
- China releases photos of tallest tree
- English version of ‘Understanding Xi Jinping’s Educational Philosophy’ published
- China crowned in men’s team for 10th straight time at table tennis worlds
- China publishes Atlas of Wildlife in SW China
- Guangxi’s 10 Years: A Visit to China’s Qinzhou Port
- Congress delegate helped lift village out of poverty
- Expo highlights joint efforts in NEV development
- Racism stain of shame on ‘world democratic paradise’
- U.S. may face new COVID wave this upcoming winter: report