On Dec 23, Yongan Futures Co, a State-controlled futures broker, completed its initial public offering (IPO) on the Shanghai Stock Exchange, becoming the 200th Hangzhou-based company to be listed on the A-share market.

Hangzhou, capital of East China's Zhejiang province, is now the fourth city, following Beijing, Shanghai, and Shenzhen, to have at least 200 A-share listed companies.

The fifth and sixth place in terms of the number of such companies are held by Suzhou (175) in Jiangsu province and Guangzhou (134) in Guangdong province.

As many as 74 Hangzhou-based companies completed their IPOs after 2018 and 40 of them made it this year.

Over the first three quarters of this year, Hangzhou-based companies completed even more IPOs on the A-share market than those from Beijing. This was the first time Hangzhou was ranked among the top three cities for the number of such companies.

Many Hangzhou-based A-share listed companies are pioneers in their respective industries and had embraced the capital market to realize rapid development. For example, Zuming, Sunchat Technology and Zhang Xiaoquan were the first manufacturers of bean products, chopsticks and scissors to list on China's stock exchanges respectively. Canaan was the first listed company from the blockchain industry worldwide. ArcSoft was the first artificial intelligence company to be listed on the STAR board in the Shanghai Stock Exchange.

Four Hangzhou-based A-share listed companies have exceeded 100 billion yuan ($15.71 billion) in market capitalization and 65 have surpassed 10 billion yuan in this regard.

Yongan Futures Co completes its IPO on the Shanghai Stock Exchange on Dec 23. [Photo/ zj.zjol.com.cn]