The first-half year saw176 IPOs raising a record high of 217.2 billion yuan, much higher than a total 187.9 billion yuan in the whole year of 2009.
Chinese companies may raise as much as 500 billion yuan ($73.86 billion) via initial public offerings in 2010, making China the largest IPO market in the world, PricewaterhouseCoopers (PwC) said on Monday.
The first-half year saw176 IPOs raising a record high of 217.2 billion yuan, much higher than a total 187.9 billion yuan in the whole year of 2009, said PwC in its report. PwC had previously projected 320 billion yuan for the full-year IPOs.
43 percent of the IPOs in the first half year are from industrial sectors, 27 percent form information technology and telecommunications and 26 percent from retails and service industries, it said.
"China's economic growth is expected to continue in the second half of the year. Unless some negative factors emerge, IPOs in Shanghai and Shenzhen will maintain the momentum and are likely to reach historical heights this year," said Charles Feng, PwC Beijing lead partner.
Foreign companies will likely to be able to tap Chinese stock market for funds this year, according to Charles Feng.
