Assets under the management of China's public offering funds hit $3.82 trillion (26.55 trillion yuan) by the end of October, Qatar News Agency said, citing data from the Asset Management Association of China.
A total of 10,270 public offering funds were being operated by 140 fund management companies by the end of October, the association said. Some 45 companies out of the total are foreign-funded, while 95 companies are domestic firms. The scale of closed-end funds neared $485.8 billion (3.38 trillion yuan), with open-end funds at about $3.33 trillion (23.17 trillion yuan), the data showed.
Chinese firms bagged some $71.2 billion through initial public offerings (IPOs) in local and international markets throughout 2022, Reuters said in a report, citing Refinitiv data, yet marking a decline from last year's $98.48 billion raised.
Despite the year-on-year fall, the figure is still much higher compared to the US companies' issuance of $17.3 billion and Europe's $16.4 billion, the report said.
"China's domestic market is less impacted by global volatilities. Internally, China has a lower inflation environment and loosening monetary policy, equity market valuation is more resilient," Mandy Zhu, head of China Global Banking - UBS, told Reuters.
Shanghai United Imaging Healthcare Co. ruled China's IPO issuance this year, raising $1.63 billion, followed by Hygon Information Technology Co. and Jiangxi Jinko Pv Material Co, raising $1.6 billion and $1.58 billion, respectively.
According to Refinitiv Lipper, global equity funds saw outflows of $144 billion since April, while Chinese equity funds received inflows worth $21.3 billion.
However, Chinese companies' listings overseas have plunged this year. IPO issuances on the mainland fell only 11%, while Chinese listings in US and Europe sank 97% and 81%, respectively.
