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Chinese bourses roar in 2020 with best year for IPOs in a decade

Shanghai, Shenzhen and Hong Kong raise $119bn despite Ant Group bust

HONG KONG -- Stock exchanges in mainland China and Hong Kong had their most successful year for initial public offerings in a decade in 2020, raising a combined $119 billion or roughly 45% of the global total.

The bourses faced some setbacks last year, like concerns over China's national security law in Hong Kong and the suspension of Ant Group's IPO, which was poised to break records. Still, they attracted numerous mainland Chinese companies seeking to raise funds closer to home amid Beijing's growing feud with Washington, which helped reinforce their position as top destinations for fundraising.

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