BEIJING - Initial public offerings (IPO) in China's A-share market continued apace last month over advanced capital market reform, Shanghai Securities News reported Tuesday.

In July, IPOs in the country's A-share market raised a record amount of 109.81 billion yuan ($15.73 billion), surpassing 100 billion yuan in a single month the first time, said the paper.

A total of 52 firms were listed in July, accounting for 30 percent of the total number of IPOs in the first seven months of 2020, which stood at 169.

In breakdown, the main board of the Shanghai Stock Exchange attracted 35 listings while the Growth Enterprise Market of the Shenzhen Stock Exchange hosted 43 IPOs from January to July, the paper reported.

Meanwhile, the STAR market, or the sci-tech innovation board of the Shanghai Stock Exchange, saw 73 companies listed during the same period.

The stock market posted stronger gains amid the robust IPO activities, the paper reported. In July, The benchmark Shanghai Composite Index, Shenzhen Component Index and ChiNext Index, or China's NASDAQ-style board of growth enterprises, went up 10.9 percent, 13.72 percent and 14.65 percent, respectively.

Experts say that sufficient liquidity has created conditions for high-quality companies in different industries to raise funds in the A-share market, thus directing funds from the capital market to the real economy.