A bird's-eye view of Hangzhou's CBD. [Photo/WeChat account: hzstcj]

On Dec 27, 2023, Dragon Tech, a fine chemical enterprise based in Hangzhou's Qiantang district, was listed on the Shanghai Stock Exchange, becoming the 700th A-share listed company in Zhejiang province.

With the initial public offering, Hangzhou announced that the total number of listed companies in the city, both domestic and international, has exceeded 300.

Hangzhou is the fourth city to become home to 300 listed companies, following Beijing, Shanghai, and Shenzhen.

Tianmushan Pharmaceuticals, a Hangzhou-based company, became the city’s first listed company when it was listed on the SSE in 1993. It was also the first traditional Chinese medicine formulation company to be listed in the country.

Fast forward to 2013, Hangzhou was home to a total of 102 listed companies, raising 106.79 billion yuan ($14.9 billion) through IPOs.

By the end of June 2020, the cumulative number of listed companies in Hangzhou surpassed 200. Now, in 2023, the number has expanded to 300.

The rapid growth of the "Hangzhou Team" in domestic and international capital markets over the past few years is closely tied to the city's efforts.

As early as 2018, the Hangzhou municipal government issued the "Phoenix Action Plan 1.0". By 2020, the city had a total of 218 listed companies.

To further fortify the "Hangzhou Team" in the capital market, Hangzhou introduced the "Phoenix Action Plan 2.0" in 2021, emphasizing a high-standard, comprehensive approach to nurturing, reforming, guiding, reviewing, and going public. Since the implementation of version 2.0, Hangzhou has added a total of 101 listed companies.

The Hangzhou financial supervision bureau has also released the "List of Key Hangzhou Enterprises Intending to Go Public", which has garnered attention from the government, exchanges, financial institutions, and news media. According to the latest data, the number of enterprises on the list has increased to 250.

The listing ceremony of Dragon Tech. [Photo/WeChat account: gh_718866274955]