Forty-three IPOs were launched by Chinese companies in the first quarter of this year, less than half the number in the same period of last year, according to investment research firm ChinaVenture.

The 43 IPOs raised a total of 35.9 billion yuan (US$5.5 billion), 42 percent less than a year earlier. Nine were listed in Shanghai, 15 in Shenzhen, 17 in Hong Kong and two in the United States.

In the largest IPO, China Zheshang Bank raised 10.9 billion yuan, with Bank of Tianjin’s 6.1 billion yuan ranking second.

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