PwC sees rising IPOs in Shanghai and Shenzhen

The number of initial public offerings on the Shanghai and Shenzhen stock markets is expected to increase rapidly in the current year - and their total value will grow substantially - after 227 took place in 2016, a 3.7 percent rise from the year earlier, according to accounting and auditing firm PwC.

The firm said that the value of IPOs in 2016 fell by 5.2 percent to 150.4 billion yuan ($21.6 billion).

Data released by PwC on Tuesday show that 103 IPOs were completed on the main board of Shanghai Stock Exchange with a value of 101.9 billion yuan in 2016 - and the number of IPOs completed on Shenzhen SME Board was 46 with a value of 22.7 billion yuan.