BEIJING - The funds raised in initial public offerings (IPOs) on China's capital market may reach 400 billion yuan ($61.9 billion) this year, down 16 percent from 2010 because of economic uncertainties both at home and abroad, PricewaterhouseCoopers (PwC) said on Monday.

"Despite the decrease in China's IPO market activity in the first six months this year, we believe the momentum remains robust for 2011, due to high confidence in the growth of China's economy and domestic demand," said Jean Sun, a partner at PwC China.

"Other factors, such as the large amount of capital and limited investment channels, will also help to stimulate the market," she said.