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Zhejiang to cultivate over 350 listed companies in 5 years

ezhejiang.gov.cn| Updated: April 9, 2021 L M S

A total of 62 Zhejiang-based companies completed their initial public offerings (IPOs) in domestic bourses in the first quarter of 2021, accounting for nearly 25 percent of the total 100 new listings in China, according to the financial information service company iFinD.

Zhejiang initiated a plan to push forward with the listings, as well as the mergers and acquisitions of enterprises in October 2017. Dubbed "Phoenix Action", the plan has achieved remarkable results, as partly reflected in the number of newly listed companies in the first quarter of this year.

In early March, the East China province released a document to further the "Phoenix Action" plan in the 14th Five Year Plan (2021-25) period, which notes that it aims to promote the listing of another 350 companies in the next five years and that there will be a total of 1,000 listed companies in the province by the end of 2025.