Chinese IPO number in China and abroad 2021-2023, by month

In January 2023, a total of 53 companies from mainland China finished their initial public offering (IPO) in China and abroad. Despite the outbreak of the coronavirus pandemic, IPO numbers and volumes remained robust in 2020. In that year, the annual number of Chinese IPOs reached 645 in 2021, of which 522 were listed at stock markets in mainland China and 123 in Hong Kong or other overseas destinations.Stock markets in mainland ChinaMainland China has two stock exchanges, the Shanghai stock exchange (SSE) and the Shenzhen stock exchange (SZSE). Both rank among the largest stock exchanges in the world. While more large state-owned enterprises are listed in Shanghai, the stock exchange in Shenzhen is home to many technology driven companies, including Huawei and Tencent. Stocks on the Shanghai exchange are distributed across two boards, the Main Board and the Sci-Tech Innovation Board (Star Market), which was newly established in 2019. The Shenzhen exchange has also two boards, the main board and the Growth Enterprises Board (ChiNext). In 2021, a larger number of IPOs were listed at the newer ChiNext and Star Market, and less at the older SME and Shanghai Main Board.Chinese IPOs abroadAs domestic Chinese stock markets are still not completely open to foreign investors and regulation on the mainland is less stringent, Chinese companies rely on overseas exchanges to attract international investors. Some of the largest global IPOs were those of Chinese companies going public at foreign stock exchanges. The Hong Kong Exchange and Clearing Market (HKEX) is a preferred place for mainland companies to get an international listing.

2023年1月，中国大陆共有53家公司完成了其在中国及海外市场的首次公开募股（IPO）。尽管新冠疫情的爆发，2020年的IPO数量及规模依然保持强劲。该年度，中国IPO年度总数达到了645家，其中522家在大陆股票市场上市，123家在香港或其他海外地区上市。中国大陆的股票市场拥有上海证券交易所（SSE）和深圳证券交易所（SZSE）两家交易所，均位列全球最大证券交易所之列。上海证券交易所虽更多接纳大型国有企业，但深圳证券交易所却是众多科技驱动型公司的聚集地，包括华为和腾讯。上海证券交易所的股票分为主板和科创板（星市场），后者于2019年新建。深圳证券交易所同样设有主板和创业板（深交所创业板）。2021年，更多IPO在较新的创业板和科创板上市，而较旧的中小企业板和上海主板上市数量较少。由于中国大陆股票市场对境外投资者尚未完全开放，且大陆的监管相对宽松，中国企业依赖海外交易所吸引国际投资者。其中，一些最大的全球IPO均来自于在海外股票交易所上市的中国公司。香港交易所及结算所（HKEX）成为大陆公司获取国际上市的首选之地。