The number of Chinese initial public offering (IPO) applications has fallen by a third in H1 2023 compared to a year earlier, as a slowing economy, earnings volatility and increased regulatory scrutiny deterred candidates. Over 100 applicants ended their IPO applications during H1; most did so voluntarily. Although total proceeds raised on China's IPO market declined from 2022, it still led globally; Shanghai's STAR Market was the top venue, where firms raised $10.6bn via IPOs in the first half, Syngenta had received a green light to raise $9bn, and Hua Hong Semiconductor Ltd was approved for a share sale worth $2.5bn.
