A new report by KPMG has forecast that China is on course to become home to three of the world’s top five stock exchanges, as measured by money generated, for 2020.
The three Chinese exchanges are the Hong Kong, Shanghai, and Shenzhen stock exchanges. The first two are expected to rank second and third among global exchanges for the “IPO proceeds” —funds raised from IPOs and secondary listings — they generate in 2020, behind only the Nasdaq, according to estimates by KPMG International Ltd.
The New York Stock Exchange, which ranked fifth last year, is expected to come in fourth this year, while the Shenzhen Stock Exchange, which did not make the top five in 2019, is set to come in fifth, according to a KPMG report.
Read the full story on Caixin Global.
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Contact reporter Timmy Shen (hongmingshen@caixin.com) and editor Marcus Ryder (marcusryder@caixin.com)
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