China share offers decline sharply in first half of 2016

The number of initial public offerings and the amount of funds raised in China's A-share market fell sharply year-on-year during the first half of 2016, according to statistics released by PwC on Monday.

During the period, 61 IPOs were completed in the A-share market, raising 28.8 billion yuan ($4.3 billion), representing declines of 67 percent and 80 percent respectively from a year earlier.

The steep fall was caused by combined factors including the global and Chinese economic slowdown and China's tightening of IPO regulations amid stock market fluctuations, said Frank Lyn, leader of PwC's mainland and Hong Kong markets section.