Sharp drop in number of Chinese IPOs

The number of initial public offerings by Chinese companies plummeted in 2013, as regulators suspended new listings in China in preparation for reforms.

Only 80 Chinese companies listed shares worldwide so far in 2013, raising a total of 77.68 billion yuan ($12.7 billion), according to ChinaVenture Investment Consulting Ltd, a venture capital and private equity industry watcher.

That amount is down 46.2 percent from the same period last year.

Seven Chinese companies went public in the US, raising a combined $6.66 billion. That compares with $153 million last year raised by just two Chinese companies.