China remained one of the leading initial public offering (IPO) markets in the world in the first half of 2021, accounting for 29 percent of the world's total by deal number and proceeds, according to a new report by the consulting firm Ernst & Young.

It is estimated that the Shanghai Stock Exchange ranked the second among global bourses in terms of IPO deals after Nasdaq, said the report.

The report estimates that 247 companies were listed on the A-share market in the first half of 2021, with a year-on-year increase of 109 percent, with funds raised reaching 211.8 billion yuan (about 32.7 billion U.S. dollars), up 52 percent year on year.

During the period, small and medium-sized IPOs saw significant growth compared with the same period last year, said the report.

Meanwhile, the deal number and proceeds under the registration-based system exceeded those under the approval system, representing 70 percent and 59 percent of the total number of IPOs and funds raised, respectively.

As the pandemic was contained and consumption rebounded, IPO activities in the Chinese mainland and Hong Kong returned to normal in the second quarter of 2021, said Terence Ho, EY Greater China IPO Leader.

"With the deepening of institutional reform and ongoing measures enabling the capital market to offer more support on the real economy, we expect to see further robust IPO activities in the second half of 2021," said Ho.

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