The Chinese mainland remains an important market for global initial public offering activities in the first half of this year, accounting for 28 percent and 50 percent of the world's total IPO cases and fundraising respectively, according to a report released by professional services provider EY on Thursday.

The number of IPOs worldwide contracted 5 percent year-on-year to 615 in the first six months of the year due to increased global economic uncertainty and geopolitical tensions. The total financing was slashed 36 percent from a year earlier to $60.9 billion.

However, the Shanghai Stock Exchange and the Shenzhen bourses took the top two positions in terms of fundraising value on a global perspective. Five out of the 10 largest IPOs in the first half of the year were Chinese companies, including Semiconductor Manufacturing Electronics (Shaoxing) Corporation, Nexchip Semiconductor Corp and CSI Solar Co Ltd.

By the end of the first half of this year, the A-share market is expected to register a total of 173 IPOs, raising 210.4 billion yuan ($29 billion). While the number of IPOs will have increased by 2 percent year-on-year, the total financing value will decrease by 33 percent on a yearly basis. The lack of mega-IPOs was the main reason for the decline in fundraising, said EY experts.

Technology companies have contributed to the IPO vibrancy in the A-share market. A total of 53 companies made their stock market debut at the technology-focused ChiNext in Shenzhen in the first six months, overtaking all other boards in the A-share market.

The STAR Market at the Shanghai bourse, which features "hard technology" companies such as chipmaking and biomedicine enterprises, reported 41 IPOs during the same period.

The Beijing Stock Exchange, which is projected to nurture technologically advanced small and medium-sized enterprises, received 41 IPOs in the first half of the year, up 116 percent year-on-year. The total IPO proceeds at this board thus surged 169 percent year-on-year to 7.8 billion yuan.

Lai Chee Kong, EY's assurance partner, said that IPO activities will remain at a high level in the second half of the year thanks to China's stabilizing economic growth and more economic stimulus packages in the pipeline.

With the implementation of the registration-based IPO mechanism across the A-share market, the listing process and delisting system will be further regulated. Companies' competitiveness will be the core standard in the capital market, with the less qualified ones to be further eliminated. Companies with technology specialties will make up the majority of future listings, he said.