China Securities Journal's website | Fang Xinghai: The Attractiveness of China's Listed Companies to Investors Will Further Increase

20 Nov 2023

Translated from China Securities Journal’s website

On November 15, 2023, Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission, said at the Shanghai Stock Exchange Global Investors Conference 2023 that this year marks the fifth year of China's pilot IPO registration system, and the first year of full implementation of the IPO registration system. Since the pilot IPO registration system, the number of A-share listed companies has increased from more than 3500 to more than 5300, with a total market value of nearly RMB 80 trillion, ranking second in the world. The overall performance of A-share listed companies has shown growth through recovery. In the first three quarters of this year, listed companies achieved operating income of RMB 53.6 trillion, an increase of 1.5% year on year. In the third quarter, the profitability of listed companies improved gradually, and the growth rate of net profit turned positive.

According to Fang Xinghai, the fundamentals of listed companies are the most important factor in investment decision-making. "The IMF recently revised its forecast of China's economic growth this year from 5.2% to 5.4%. With the continuous implementation of China's proactive fiscal policy, the attractiveness of China’s listed companies to investors will further increase."