A-share market financing hit 1 trln yuan 2010

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China's A-share market set records in financing this year with 1.06 trillion yuan ($157.62 billion), exceeding the sum of fundraising in the last two years, which were 512 billion yuan in 2009 and 352 billion yuan in 2008, the Securities Times reported Wednesday.

Statistics show 349 companies conducted initial public offerings (IPOs) in 2010 and contributed 489 billion yuan to the total number, according to the report.

Small- and medium-sized enterprises (SMEs) and growth enterprises are the main force for this year's IPO market. The average PE ratio of IPOs on the SME board is 48.08 times and 62.09 times on the GEM, which boosted A share market's PE ratio to a record high of 59.18, compared to 53.33 in 2009 and 26.75 in 2008.

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