BIZCHINA / Center |
China's stock markets raise 210 bln yuan this year(Xinhua)Updated: 2006-12-25 15:55 An estimated total of more than 210 billion yuan (26.9 billion U.S. dollars) was raised this year on the two bourses on the Chinese mainland, Shenzhen and Shanghai stock exchanges, said industry watchdog. According to Yao Gang, assistant to chairman of China Securities Regulatory Commission, the figure was 36 percent higher than the 154 billion yuan (19.7 billion U.S. dollars) level in 2000. The total included approximately 160 billion yuan (20.5 billion U.S. dollars) raised through initial public offerings, or IPOs, and around 50 billion yuan (6.4 billion U.S. dollars) through secondary public offerings, Yao said. More than 70 companies launched IPOs, and 52 staged secondary public offerings this year. IPOs helped increase the market capitalization on the bourses by more than three trillion yuan (384.6 billion U.S. dollars), or 94 percent from the 3.2 trillon yuan (410.3 billion U.S. dollars) level at the end of 2005. Observers said the impressive performance of China's equity market was attributable to innovations made this year, including share rationing to strategic investors and oriented private placement. Next year the industry regulator will continue to encourage large quality enterprises to go public on both domestic and international capital markets and encourage those having been listed in Hong Kong to launch IPOs in mainland bourses. Smaller businesses will also be encouraged to raise fund at domestic equity markets. (For more biz stories, please visit Industry Updates) |
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