Fundraising in Domestic Stock Exchanges
In 2020, total fundraising through the China domestic stock exchanges reached RMB 5,430 billion, increasing by 22 percent year-on-year. Of this amount, RMB 4,055.9 billion, or 75 percent, was raised through bond issuances, an increase of 25 percent from the previous year. Additionally, RMB 904.2 billion was raised through follow-on equity offerings, a year-on-year decrease of 6 percent. Supported by the implementation of the STAR Market’s registration system, 396 companies raised a total of approximately RMB 470 billion through IPOs on the A-share market in 2020, an 86 percent increase in the funds raised from the previous year. The number of companies that went public increased by 95 percent year-on-year, and the amount raised accounted for 9 percent of total fundraising through domestic stock exchanges.
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