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Zhou Xin

Guangdong and Zhejiang are home to the most listed companies in China, according to a new report that suggests a shift in economic gravity towards China’s coastal regions.
The Pearl River Delta province homed 424 companies listed in China by the end of 2015, or 15 per cent of the national total. Zhejiang followed with 299 listed companies, then Jiangsu with 276, China Business News reported.
Under-developed inland regions like Qinghai, Tibet, Ningxia, Guizhou and Gansu were home to the least.
China’s onshore stock market was created in the early 1990s, initially with the goal of helping troubled state enterprises to raise funds.
Mainland China’s stock markets should learn from Hong Kong: central bank adviser
But the report showed listed companies were far more likely to be non-state businesses in coastal regions, rather than inland industrial enterprises.
“It’s an evitable trend, and like everywhere else in the world, there’s nothing to stop the relative decline of traditional heavy industry places,” said Shen Jianguang, the chief economist for Mizuho Securities Asia in Hong Kong.
The report suggests that despite years of government efforts to balance regional development with preferential policies for the vast western region and the northeast rust-belt zone, both people and money are chasing bigger cities, richer places and freer economies.
About two thirds of China’s listed companies came from the top six provinces.
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Zhejiang is smaller than Shandong in terms of overall economic size and population, but the number of listed companies based in Zhejiang was almost twice that of Shandong.
The newspaper attributed this to Zhejiang’s robust non-state business segment.
Zhejiang’s proximity to Shanghai, where the main stock exchange is located, may also be a factor.
Within Guangdong, there were far more listed companies in Shenzhen than in Guangzhou, the provincial capital city.
Beijing, an ideal base for China’s state companies, had 265 listed companies, while Shanghai had 224.
Despite a spectacular stock rout last year, the central and local governments hope China’s stock market can assume a bigger role as a financing channel for the country’s companies to alleviate their reliance on debt for ­development.


For China’s listed companies, Guangdong tops the list: shift in economic gravity towards country’s coastal regions

A view of the Liede Bridge, front, the Canton Tower, tallest, and other skyscrapers and high-rise buildings along the Pearl River in Guangzhou city, south China’s Guangdong province. Photo: Imaginechina

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For China’s listed companies, Guangdong tops the list: shift in economic gravity towards country’s coastal regions

.css-jfmysa{display:inline;word-break:break-word;}.css-1ankfgb{cursor:pointer;display:inline;word-break:break-word;}Mainland China’s stock markets should learn from Hong Kong: central bank adviser

Mainland China’s stock markets should learn from Hong Kong: central bank adviser