China has been a major market for the New York Stock Exchange (NYSE) when it comes to international initial public offerings
(IPOs) over the past few years, and the trend will continue in 2019, according to the exchange.
The wholly-owned subsidiary of Intercontine
ntal Exchange finished 2018 with 125 billion U.S. dollars in proceeds raised from 356 transactions. In a year mark
d by elevated volatility in U.S. equity markets, NYSE issuers raised 30 billion dollars in proceeds from 73 IPOs, statistics showed.
A total of 25 international IPOs were executed during the year, raising 10 bi
llion dollars in proceeds, including Tencent Music Entertainment Group from C
hina, PagSeguro Digital Ltd. from Brazil, and Hudson Ltd. and Farfetch Ltd. from Britain.
A total of 18 Chinese companies raised more than 4 billion dollars in proceeds las
t year, the exchange said in its response to Xinhua’s inquiry. The compa
nies are from a variety of industries, including education, hospitality, technology, and automotive.
Alex Ibrahim, head of international capital markets at NYSE, told Xinhua that it was a “huge highlight” to have compan
ies like Tencent Music Entertainment listing on the exchange and raising over 1 billion dollars.
The IPO of Nio, a leading Chinese electric vehicle maker, also raised more than 1 b
illion dollars and was a very successful transaction, he noted. “It was super exciti
ng to see those cars in front of the exchange and in Times Square,” Ibrahim said in an exclusive interview with Xinhua.
China accelerated the development of clean energy last year, with the installed capacity of renew
able energy exceeding 700 million kilowatts, the National Energy Administration said.
China will continue to boost the growth of the oil-and-gas industry this year, increase efforts in oil and gas exploration and d
evelopment, and build more pipelines and gas storage facilities, according to the administration.
China has adopted a slew of measures to encourage the development of clean energ
y, including building vast solar and wind farms, wi
th aims to make non-fossil energy meeting 20 percent of its energy needs by 2030.
To reach this goal, China is investing heavily in renewable energy, pledging to invest 2.5 trillion yuan (about 373 billion US d
ollars) in renewable power generation – solar, wind, hydro and nuclear – by 2020.