China's IPO pipeline swells in first six months

⁠⁠⁠⁠⁠⁠⁠A total of 177 enterprises submitted initial public offering (IPO) applications on China's A-share market in the first half of 2025, surpassing the total number of IPO applications for the entire previous year, data disclosed by the three major stock exchanges in Shanghai, Shenzhen and Beijing reported.    Specifically, the peak of IPO applications occurred in June, with 150 applications accepted during the month, representing around 85 percent of the total applications received in the first six months of the year.   Some industry insiders noted that the surge in IPO applications in June 2025 was driven by both the review deadline and the introduction of favorable policies. It is understood that the financial data included in enterprise IPO application documents remains valid for six months following the latest reporting period. By submitting applications in June, companies can extend the validity period of their filings.   Furthermore, the ongoing release of supportive regulatory policies has also encouraged enterprises to initiate or accelerate their IPO processes. On June 18 of this year, the China Securities Regulatory Commission (CSRC) released the policies for the reform of the Nasdaq-like STAR Market, proposing to resume the listing of unprofitable enterprises under the fifth set of listing standards for the STAR Market.    "A growth tier is added to the STAR Market and the listing of unprofitable enterprises based on the fifth set of listing standards of the STAR Market is restarted. Against this backdrop, some hard-tech enterprises that meet the requirements of scientific and technological innovation and the development of new quality productive force have initiated their applications," explained Li Qiusuo, Chief Domestic Strategy Analyst of the Research Department of China International Capital Corporation (CICC).    The IPO applications from companies in the fields of information technology, industrial and materials exceeded 120, accounting for about 70 percent of the total in the first half of the year.   It is worth noting that the Beijing Stock Exchange recorded the highest number of IPO applications accepted during the first half of the year, totaling 115, which accounted for approximately 65 percent of the overall volume.

China's IPO pipeline swells in first six months

China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.

In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.

"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.

This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.

By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.

China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.

The minister said that China has always been a firm supporter and an important contributor to APEC.

"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.

China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting