LSEG: The total global stock financing amount for mainland Chinese companies will reach $59.55 billion in 2024, a 54% decrease year-on-year.

Recently, LSEG released the 2024 "China Capital Market Report and Underwriters & Legal Advisers Ranking". The report shows that Chinese mainland companies raised a total of approximately $59.55 billion in equity and equity-linked transactions in the global capital markets in 2024, a decrease of 54% year-on-year and an increase of 18% quarter-on-quarter. The number of issuances decreased by 50% compared to the same period in 2023, totaling 414 transactions, with a 36% increase in the fourth quarter compared to the third quarter. In 2024, CITIC SEC ranked first in the list of underwriters for Chinese stocks and equity-linked transactions, participating in a total of 70 deals and accounting for 12.2% of the market with a total fundraising amount of $7.28 billion. In terms of the number of transactions, Guo Hao Law Firm ranked first in the list of legal advisers to issuers in Chinese stocks and equity-linked transactions; and in the list of underwriters' legal advisers, Jingtian & Gongcheng Law Firm ranked first. In the bond market, the issuance amount in the RMB bond market increased by 12% compared to the same period in 2023; and decreased by 12% quarter-on-quarter in the fourth quarter of 2024 compared to the third quarter. The total issuance amount in the RMB bond market in 2024 was approximately RMB 25.6 trillion, an increase of 12% year-on-year; with a 12% decrease in the total issuance amount in the fourth quarter compared to the third quarter. The issuance amount of Panda bonds increased by 55% in 2024 compared to the same period in 2023; and decreased by 19% quarter-on-quarter in the fourth quarter of 2024 compared to the third quarter. The total issuance amount in the Panda bond market in 2024 was approximately RMB 153.4 billion, an increase of 55% year-on-year, with a 19% decrease quarter-on-quarter. CITIC led the RMB and China G3 currency bond underwriters; Bank Of China ranked first in the Panda bond and Dim Sum bond underwriters. 01 Chinese stocks and equity-linked Market Overview The total amount of initial public offerings (IPOs) reached $14.42 billion, a decrease of 71% year-on-year and an increase of 125% quarter-on-quarter. The total amount of additional offerings reached $23.46 billion, a decrease of 61% year-on-year and an increase of 11% quarter-on-quarter. The total issuance of convertible bonds and equity-linked shares in China amounted to $21.66 billion, an increase of 5% year-on-year and a decrease of 24% quarter-on-quarter. The industrial sector led other industries with a market share of 24.5%, raising a total amount of $14.59 billion, a 54% decrease compared to last year. Financial Advisers Ranking Legal Advisers Ranking 02 Chinese bonds Market Overview Issuer Legal Advisers: Jingtian & Gongcheng Law Firm leads the RMB bond business ranking, while AllBright Law Offices tops the G3 currency bond business ranking. Underwriter Legal Advisers: AllBright Law Offices leads the RMB bond business ranking and ranks first in the G3 currency bond business ranking. Financial Advisers Ranking Legal Advisers Ranking 03 Chinese Syndicated Loans Financial Advisers Ranking