A leading Chinese financial data provider says that IPOs on China's A-share market lost its momentum in 2012, with fewer newly listed companies and reduced fundraising.
Some 150 Chinese firms raised a combined 93 billion yuan through IPOs in Shanghai and Shenzhen last year.
The country saw a huge expansion of the IPO market in 2009 and 2010 with 85.9 percent of IPO applications approved in 2009 and 83.5 percent in 2010, whereas last year, only 76 percent were approved.
The number of IPOs and total funds raised both slumped to their lowest point since 2010.
Amid a lackluster IPO market, China's refinancing market in 2012 has seen a boom by contrast.
The scope of the r
