Jul. 4, 2012 (China Knowledge) - The size of initial public offering on China's Shanghai and Shenzhen bourses is expected to hit RMB 200 billion to RMB 250 billion this year, according to the latest report released by top auditor PricewaterhouseCoopers (PwC).

The report said that China's IPO market is expected to recover in the second half and may see 200 to 250 IPOs in the whole of this year.

In the first half of this year, funds raised from IPOs on Shanghai and Shenzhen stock exchanges fell 56% YoY to RMB 77.5 billion, and the number of IPO cases dropped 38% YoY to 105, due to uncertain global economic prospects and the on going eurozone debt crisis.

From January to June, Hong Kong's IPO market also experienced a slump, seeing its fund-raising size plunge 84% from the same period of last year to HK$30.6 billion.