Chinese Tech, Media and Telecom Share Sales Shrink by Half

Initial public offerings by Chinese technology, media, and telecommunications (TMT) companies shrank by almost half in the first six months this year in a languid Chinese stock market, global consulting firm PricewaterhouseCoopers (PwC) said Thursday in a report.

The number share offerings by Chinese mainland TMTs fell from 124 in the second half of 2022 to 66 in the first half of 2023. Total financing declined from 133.5 billion yuan ($18.34 billion) in the second half of 2022 to 82.9 billion yuan in the same period this year, PwC said.