China's A-share market outperformed other major global stock markets both in terms of the number of IPOs and the amount of capital raised in the first half of 2022, and is headed for a record year, according to international professional services firm PricewaterhouseCoopers (PwC).
The number of IPOs on China's A-share market reached 169 in the first half of 2022, raising a total of 311.9 billion yuan ($46.59 billion), according to a PwC report published on Monday.
China's two major stock exchange markets, the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE), received the highest and second highest volume of financing in the first half of 2022, said the report.
Jean Sun, a PwC China Integrated Business Services partner, said in the report that China's support targeting technical start-ups and new industries led to the A-share market thriving against pressure coming from multiple factors in the first half of 2022.
PwC predicted that China's IPO market would do even better in the second half of 2022, with the number of IPOs on the A-share market set to reach between 330 to 380, raising between 560 billion yuan to 635 billion yuan by the end of 2022.