A perfect close for China's stock market 2007
Updated: 2007-12-28 17:56
c. Market value
As of yesterday, 1,523 companies were listed on the two stock exchanges which issued a total of 1,990 securities to the market. Total market value of all securities in the market was 32.9 trillion yuan, a growth of 2.69 times from last year's 8.9 trillion yuan (See Chart 3). The value of currently tradable floating shares stood at 9.3 trillion yuan as of yesterday, up 2.72 times over the end of 2006.
Chart 3: Market value (unit: trillion yuan)
2. Market participants
a. Listed companies
China's A-share markets raised a total 447 billion yuan from initial public offerings (IPOs) this year, topping the world in terms of the amount raised. By the end of last week, Chinese stock markets witnessed a total of 120 IPOs this year, with 409.7 billion yuan raised in Shanghai and 37.3 billion yuan in Shenzhen.
By the end of November, Chinese companies raised a total 734.4 billion yuan by IPOs and additional share placements, 68 percent more than the same period last year (See Chart 4).
Chart 4: Fund raised in China's stock market (unit: billion yuan)
The high-flying performance of the stock market attracted more companies to come to list or return from overseas markets to the home bourses, especially high-quality large-cap blue chips.
Of them, 12 stocks raised more than 10 billion yuan from their IPOs. They were: China Pacific Insurance, China Shipping Container Lines, China Railway, PetroChina, China Shenhua Energy, China Construction Bank, Bank of Beijing, China COSCO, Bank of Communications, China Citic Bank, Ping An Insurance, and Industrial Bank.
Of the total 447 billion yuan raised from IPOs, the 12 enterprises raised a combined 382.89 billion yuan, or 85 percent.
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