(Yicai) June 25 -- The amount of funds raised through new listings in the Chinese mainland and Hong Kong markets in the first half of the year accounts for 22 percent of the global total, with one-third of all listings happening in the country, according to an industry report.

Global initial public offerings, secondary listings, and dual-primary listings raised USD191.1 billion in the six months ending June 30, up 208 percent from a year earlier, according to a report released by accounting firm Ernst & Young Global yesterday. Among that, USD42.3 billion was raised in the Chinese mainland and Hong Kong, up 99 percent in the period.

The leading stock exchange by new listing proceedings was the Nasdaq, with USD113.1 billion, mainly driven by SpaceX’s USD85.7 billion IPO, the report showed. The Hong Kong Stock Exchange ranked second, with USD26.8 billion, a five-year high. The Shanghai Stock Exchange and Shanghai Stock Exchange were fourth and sixth, with USD9.4 billion and USD4.4 billion, respectively.

The Chinese mainland market experienced significant growth, thanks to the positive performance of the SZSE, which was primarily driven by technology and advanced manufacturing, and that of the SSE Star Market, driven by hard-tech industries. Meanwhile, the traditional industries-centered main board of the SSE logged a weak performance because of the shift in risk appetite toward emerging industries.

No new stocks declined on their debut on the Chinese mainland stock exchanges in the first half, with an average return rate on the first day of trading of 233 percent, the highest in the past five years, according to the report.

Chinese mainland-listed companies were the main driver of the HKEX new listings market. In fact, their number and value accounted for 96 percent and 99 percent, respectively, of the bourse’s total in the first half.

The HKEX has significantly enhanced its attractiveness by optimizing its listing system, implementing the ‘mainland + Hong Kong’ fast track, and establishing a dedicated channel for tech firms, said ‌Tang Zhehui, co-head of audit services at Ernst & Young China. These measures provide more convenience and flexible options for high-quality companies seeking to list in Hong Kong, he added.

In the second half, new listings in the mainland will continue to be led by innovative tech firms, with sectors such as artificial intelligence, humanoid robots, advanced semiconductors, new energy storage, and innovative biopharmaceuticals as the new focus, the report predicted.

Meanwhile, the Hong Kong market will likely remain active, driven by the continuous optimization of listing regulations, a sufficient IPO pipeline, and the ongoing trend of dual listings in Hong Kong and the mainland.

Editor: Futura Costaglione