IPO Rush on the Mainland

The bullish performance of the mainland stock market attracted many overseas listed Chinese companies to launch initial public offerings (IPOs) at home.

PetroChina, which holds the biggest weight in the mainland stock market, made 3 billion of its shares tradable in the A-share market on November 5 after seven years of trading in Hong Kong and New York.

To date, the majority of the Hong Kong and U.S.-listed mainland companies have made their debut on the mainland, such as China Life, Ping An of China, Shenhua Energy, PetroChina, Bank of China and China Construction Bank.

On December 14, the total market value of the yuan-denominated A-share market reached 30 trillion yuan ($4.05 billion), more than three times higher than what it was at the end of 2006.