This photo taken on April 10, 2023 shows the ceremony celebrating the listing of the first batch of shares under China's registration-based initial public offering (IPO) system on the main board of Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province.
BEIJING, Aug. 3 (Xinhua) -- Sci-tech innovation board or STAR Market and ChiNext market have become the major venues for initial public offerings (IPO) of companies in China in the first seven months of 2023.
Public data showed that 210 companies completed IPOs in the first seven months of this year, slightly higher than the 205 ones in the same period of 2022 and raised in total 247.871 billion yuan of funds.
By July 31, STAR Market and ChiNext market IPOs numbered 73 ones and 51 ones, with the respective funds raised at 104.406 billion yuan and 85.272 billion yuan and taking up altogether over 70 percent of the total funds financed via IPOs in China from January to July, showed statistics with Wind, a financial data provider in China.
Since the registration-based IPO reform, IPOs of businesses have maintained a regular pace and facilitated the relatively sound functioning of capital market, said market experts, expecting the investor side reform on capital market to speed up further and more policies to improve capital market activity to debut in future.
Previously, China Securities Regulatory Commission (CSRC), the sector regulator, stressed at a mid-year work meeting the maintenance of regular pace of IPOs in a scientific and rational way and flexible balance of primary and secondary stock markets in China.
The newspaper reported that Chinese regulars are studying and formulating plans concerning the investor side reform for capital market to form one of the policy frameworks for building a modern capital market with Chinese characteristics.
Zhang Jun, chief economist with China Galaxy Securities deemed that capital market, as an important link between investors and the financing side, needs to attract long-term capital and forge a stable market ecology via the investors side reform.
Through the investor side reform, the financing side can obtain capital at fairer prices and investors can at the same time acquire long-term and stable returns, both of which will help enhance the market stability and introduce more long-term capital holders, added Zhang. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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