Sixteen enterprises from Hangzhou have submitted their applications for IPO on the Main Board and Growth Enterprise Board. More companies are reinforcing this trend, with another 16 undergoing procedures before application, almost the same number of those planning to be listed on the Main Board. Dozens of other companies are trying to become qualified.

Sixty-two companies are now listed on stock markets at home and abroad, taking up 35% of all quoted companies in Zhejiang. In China 45 are listed (21 in Shanghai, 24 in Shenzhen, 15 on the SME Board and two on the Growth Enterprise Board) and 17 are listed overseas. Following Beijing, Shanghai and Shenzhen, Hangzhou ranks fourth for the number of companies listed.

Famous for its landscapes and regarded as an “Earthly Paradise”, Hangzhou is now a paradise for investment. Plenty of top companies engaged in the Internet, software development, digital products, catering, baby products, trading and tourism have emerged and are favored in the capital market locally and internationally.

“Being listed will enhance the brands and their influence. The finance lays a solid foundation for the companies’ sustainable development. Big companies like Alibaba and Huaxing Chuangye have greatly encouraged us,” said an IT company owner who didn’t give his name.

Since the resumption of the IPO this July, eight companies from Hangzhou have been listed: three on the SME Board, three on the Growth Enterprise Board and two on foreign boards. The Growth Enterprise Board has become the new arena for Hangzhou companies to be financed. Among three Zhejiang enterprises listed, Hangzhou has two.

By David