Chinese companies skyrocket in price




The total capitalization (market value) of Chinese companies reached $10 trillion for the first time since 2015, Bloomberg writes. The local stock market has skyrocketed in value due to the policy of the country's authorities.





Since March of this year, the total market value of shares in the Chinese market has risen by $3.3 trillion. Thus, it has consolidated in the second place in the world in terms of capitalization, behind the US stock market ($38 trillion) and surpassing the markets of Japan (6.3 trillion) and Hong Kong (5.9 trillion).

The latter is often used by Chinese companies to go public and attract investment from abroad, since Hong Kong, which has the status of a special administrative region of China, does not fall under many of the restrictions imposed on the mainland.

Among the factors that led to a sharp increase in capitalization, economists interviewed by the publication name Beijing's policy to popularize exchange trading, the strengthening of the yuan (due to which capitalization remained at the same level in the national currency, but increased in terms of dollars), the IPO of several Chinese companies, and last year's launch of the Shanghai STAR exchange.





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TAGS: CHINA

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