Mumbai: China has emerged
fourth in the world in equity market capitalisation with a volume of 25.32 trillion
yuan ($3.37 trillion) as of September 30 this year, accounting for about 5.7 per
cent of the world''s total.
total of 1,517 companies went public on the stock markets of the mainland by the
end of September, official media said.
overall volume at Shanghai and Shenzhen bourses was around 4 trillion yuan at
the end of 2002, ranking China the fourth largest in Asia, data furnished by a
delegation of the central financial authorities to the ongoing communist party
equity markets raised a total of 425.04 billion yuan ($56.7 billion) through initial
and secondary public offers in the first nine months of this year, surpassing
the combined funds from 2002 to 2006, the China Securities Journal reported.
September alone, money raised through 15 initial public offers (IPO) amounted
to 149 billion yuan, or half of the money raised through IPOs so far this year.
China Shenhua, the nation''s biggest coal producer, raised 66.58 billion yuan from
IPO, refreshing the 58.05 billion yuan record set by the China Construction Bank.
regulatory commission chairman Shang Fulin cited shareholder reform initiated
in 2005 to float non-tradeable state owned shares, tighter market supervision
on insider trading and the clean-up of the securities sector as factors leading
to the bull run on the stock market.
said the stock market is playing a better part acting as a barometer of china''s
investors control 46 per cent of the market equity, reports quoted Shang as saying.
market was also driven by sufficient liquidity, rapid economic growth and the
return of heavyweight state-owned enterprises from overseas bourses to domestic