FIRMS listed on the Chinese A-share market through initial public offerings (IPOs) and the funds raised hit record high this year, as the registration-based system has stimulated the market’s vitality, China Securities Journal reported Wednesday.

As of Tuesday, a total of 508 companies were listed on the A-share market, up 16 percent from the annual figure in 2020, said the newspaper, citing data from financial information provider Wind.

These firms raised 527.3 billion yuan (US$82.77 billion) from the A-share market, an increase of 9.7 percent compared with the total deal size of last year.

More than 70 percent of IPOs were issued through the registration-based system, with 386 firms listed on the Nasdaq-style sci-tech innovation board, the ChiNext board and the Beijing Stock Exchange (BSE), according to the news report.

The country has rolled out a slew of reform measures, including the revision of the securities law, the implementation of a registration-based system and the debut of the BSE.

This marks the beginning of a new era for the Chinese capital market, said He Zhaofeng, a managing partner of EY greater China. (Xinhua)