Zhejiang Danau Industries Co Ltd makes its initial public offering on the Beijing Stock Exchange on Dec 29, 2022. [Photo/taizhou.com.cn]

Zhejiang Danau Industries Co Ltd made its initial public offering on the Beijing Stock Exchange on Dec 29, 2022, making it the seventh company from Taizhou, East China's Zhejiang province to be listed that year.

Taizhou was ranked fourth provincially in terms of the number of newly listed companies - only one less than Ningbo, an economic powerhouse in Zhejiang - in 2022.

Of the seven listed companies from Taizhou, five are "little giant" in segments including medicine, outdoor leisure, new materials and intelligent manufacturing.

"Little giant" refers to industry leaders that the Ministry of Industry and Information Technology recognizes as having excellent innovation capabilities, large market shares, core technologies, as well as high product quality and profitability.

"This shows that tech enterprises have become an important force behind Taizhou's entry into the capital market," said Zhang Saiting, head of the Securities Financing Division of the Taizhou Municipal Finance Office.

The city is currently home to 71 listed companies and its number of A-share listed companies is the fourth highest among prefecture-level cities in China.

There are also more than 30 companies from the city preparing for IPOs, according to local authorities.