The China Securities Regulatory Commission (CSRC), China’s securities regulator, has approved 30 new initial public offerings (IPOs), in an attempt to cool a stock market rally.

Based on stock exchange filing on 03 April, 28 of the 30 new IPOs have published their share issue prospectus to launch the IPOS over the next two weeks.

Analysts said the 30 IPOs could lock up as much as Rmb3.7 trillion (USD597.13 billion) in subscription funds over the next two weeks.

The number of latest IPOs approved was the most for this year after the securities regulator approved 20 IPOs in January and 24 each in February and March.

About Rmb1 trillion (USD161 billion) of fresh funds flowed into the stock market in Q1 of 2015 alone, the official Securities Times reported.

China’s blue-chip CSI300 .CSI300 index has surged since the second half of last year as the government talks up the market to support corporate fund-raising, while economic reforms add to enthusiasm for hot stocks.

Meanwhile, Chinese companies accounted for 38% of global technology IPOs in 2014, compared to 13% in 2013, with 57% of the proceeds compared to 9% in 2013, according to PwC’s Global Technology IPO Review Full Year and Q4 2014.

In addition, Chinese exchange listings accounted for 29% of the global technology IPO volume in 2014 compared to zero deals in 2013. The resurgence of Chinese IPOs was partly due to the lifting of the freeze by the China Securities Regulatory Commission (CSRC).

China’s re-emergence marked the biggest change in year-on-year activity. With 45 listings and proceeds worth US$29.1 billion in 2014, China surpassed its 2013 figures fourfold (463%) in the number of issues (8) and by 28 times in proceeds (US$1 billion).

Until 2013, the best year for China in terms of proceeds and number of technology IPOs was 2010. –