(Yicai) July 2 -- The Chinese mainland’s three major stock exchanges stepped up the pace of approvals for initial public offerings last month, accepting nearly twice as many filings as they did in the whole of last year.

The Beijing, Shanghai, and Shenzhen bourses accepted 150 IPO filings in June, compared with 77 in 2024. Ninety-two applications were approved in the last four working days of the month, with 41 accepted on June 30 alone.

Adding the 27 IPO filings accepted from January through May brings the cumulative total for the first half of this year to 177.

After hitting a decade-low last year for new listings (100) and acceptances (77), the rebound in the first six months of this year has exceeded expectations, Wu Chao, a sponsor representative in Minsheng Securities' investment banking division, told Yicai.

From January through June, the Beijing Stock Exchange accepted 97 IPO applications, the Shanghai Stock Exchange accepted 25, including 18 companies seeking to go public on its Nasdaq-like Star Market, and the Shenzhen Stock Exchange took on 28, including 19 for its tech-heavy ChiNext board.

June is a seasonal peak for IPO acceptances, Wu pointed out, as many businesses base their filings on financial reports issued in March and April and the extensive preparations -- drafting documents and completing various procedural steps -- often wrap up that month.

“IPO acceptances in the second half will continue the trend of ‘stable quantity and improving quality,’” said Tian Lihui, dean of the Financial Development Research Institute at Nankai University, adding that the intensified review of IPO applications will help boost stock market activity.

With regulators encouraging more specialized small and m‑sized technology firms to enter the capital market, the Beijing bourse, which mainly serves such companies, is expected to significantly increase the number accepted, Tian noted.

Tian attributed the explosive growth in the Beijing bourse’s acceptances to enhanced support for science and tech‑oriented IPOs, marking the start of a recovery in China’s IPO market after last year’s lull.

Editor: Martin Kadiev