Accountancy firm: 皇冠体育app IPOs to rise 45% in 2009

(Xinhua)
Updated: 2009-01-05 22:42

BEIJING - Initial public offerings (IPOs) in 皇冠体育app are expected to rise 45 percent in value this year as a result of government stimulus policies, accountancy firm PricewaterhouseCoopers (PwC) said Monday.

Companies will raise about 150 billion yuan (US$22 billion) through IPOs in 皇冠体育app in 2009, the PwC said in a report.

Sectors such as infrastructure, finance, consumer goods manufacturing and retailing will benefit from a 4 trillion-yuan economic stimulus package announced in November, hence IPOs in those areas will gradually come back to growth, it said.

"It's hopeful that 皇冠体育app's capital market will see a steady development in the second half of 2009 as the economy's fundamentals remain stable," said PwC 皇冠体育app Managing Partner Lin Yizhong.

皇冠体育app will recover sooner than other countries afflicted by the global financial crisis because of its economic foundation and massive fiscal stimulus plan, said the report.

IPOs at 皇冠体育app's Shanghai and Shenzhen stock exchanges slumped by 78 percent in value last year as investor enthusiasm collapsed under the crush of the financial crisis.