It is forecast that 200 companies will have initial public offerings (IPOs) in Chinese A-share market in 2015 garnering 130 billion yuan ($21 billion), according to a report by PricewaterhouseCoopers (PwC) on Monday.

The report said the projected average price-to-earning ratio of new listings in Shanghai will be 20 to 40, and at SME board it will be 20 to 40, and at ChiNext board it will be 30 to 40.

"We are optimistic about future market trends and believe that the ‘New Normal' of economic growth and solid macroeconomic policy, the Shanghai-Hong Kong Stock Connect and the upcoming registration reform will facilitate a new chapter for the IPO market in 2015," said Frank Lyn, PwC Chinese mainland and Hong Kong Markets leader.

IPO activity in Chinese mainland slowly recovered in 2014 with 125 IPOs and 78.6 billion yuan funds raised in total.

Among the IPOs, 43 companies got listed on the Shanghai A-share market, 31 companies went public on the Shenzhen SME exchange, and 51 companies chose the Shenzhen ChiNext exchange.

The popular sectors include consumer products, services and industrial ones.

Other equity funds raised for Shanghai and Shenzhen totaled 609 billion yuan in 2014, rising 42.3 percent year on year.

Lyn said the popularity of other equity financing activities will continue in 2015.

The United States continued to lead the global IPO market in 2014, both in terms of total volume and value. In 2014, funds raised in the US increased by 54 percent compared to 2014, with the NYSE and Nasdaq accounting for 534.2 billion yuan. Hong Kong came second with 122 IPOs raising HK$ 227.8 billion ($29.4 billion), an increase of 33 percent compared to 2013.