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    China’s IPO Market Report Q2’21
    In Q2’21 as many countries were unlocked with the vaccine promotion, global financial markets began to have high liquidity, the interest rates in various countries remained stable, and the global stock markets rose. World economies have seen diverged trends depending on their recovery from the pandemic. China's economy in Q2’21 continued its strong recovery in the previous quarter, with a real GDP growth rate of 7.9%. In terms of trade, China's trade surplus in goods was 882.8 billion yuan, down 17.4% YoY. In addition, the yield of 10-year U.S. Treasury bonds was 1.5%, down 20bp from the end of last quarter. The International Monetary Fund (IMF) predicts that the economic growth of the U.S. will be as high as 7.0% in 2021, the highest in decades. At the exchange rate level, the US dollar continued to fluctuate within a narrow range, the Japanese yen continued to depreciate, and the RMB exchange rate was relatively stable. The exchange rates of emerging economies with high financial fragility, such as Argentina and Turkey, continued to depreciate, while those of BRICS countries generally appreciated. After the Federal Reserve's meeting on interest rates in June 2021, the yield of long-term U.S. treasury bonds showed a downward trend. If monetary policy easing began to tighten marginally, it would exert great pressure on the stock market's rebound. On the whole, the variants of Covid-19 pose a challenge to the global economic recovery.
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    基于中国经济大环境在新冠疫情之下的稳定运行,以及科创板和创业板注册制的持续发展,2021年二季度中企上市依然势头强劲。2021年二季度,中企境内外上市总数量为173家,同比上升98.9%,环比上升19.3%;总融资额2378.66亿人民币,同比上升76.2%,环比上升16.3 %。
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    根据清科旗下私募通数据显示,2021年5月共有48家中国企业 在全球各交易市场完成IPO,数量同比上升100%;总融资额为644.05亿人民币,融资金额同比上升149.5%,环比上升17.6%。
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    根据清科旗下私募通数据显示,2021年4月共有61家中国企业 在全球各交易市场完成IPO,数量同比上升134.6%;总融资额为547.50亿人民币,融资金额同比上升159.1%,环比下降38.1%。
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    China’s IPO Market Report Q2’20
    In the second quarter of 2020, due to the liquidity support of central banks and the effective control of the COVID-19 epidemic in some regions, the financial market gradually recovered from the negative impact of the epidemic. The global stock market staged a recovery overall, but still away from the level before the epidemic spread in February 2020. The average of the US dollar index has rebounded from the first quarter, the yen and the euro have been stable, and most emerging economies have suffered from a significant currency devaluation. As the Federal Reserve launched open QE and injected liquidity into the market through large-scale repurchase and other tools, the price movement of various assets has returned to normal. On June 30, the VIX index was 30.43%, a significant decline from March. In the latest World Economic Outlook Report released by the International Monetary Fund, the impact of the COVID-19 epidemic on economy is more serious than expected, and the recovery is expected to be slower than before: the global GDP growth rate in 2020 is expected to be –4.9%, 1.9% lower than the forecast in April. The IMF predicts that all regions (developed economies, emerging markets, and developing economies) will suffer negative growth in 2020, and the forecasts of consumption growth in most economies have been reduced. The global growth in 2021 is expected to be 5.4%, which is 0.4% lower than the forecast in April. Consumption will gradually increase next year, and investment will stabilize and pick up, but it will remain weak.
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