BEIJING (BLOOMBERG) - Proceeds from equity listings in China climbed to a record share within the Asia-Pacific in the first half of the year, bucking a slump that has been the dominant trend across traditional venues worldwide.

The amount raised through first-time share sales in Shanghai, Shenzhen and in the recently created Beijing Stock Exchange accounted for nearly two-thirds of all deals in the region since January, Bloomberg data show.

The US$38 billion (S$52.7 billion) tally marks an increase of 9.5 per cent versus the same period last year, contrasting with a 91 per cent slump for Hong Kong and a 27 per cent drop for the Asia-Pacific.

The increase in domestic Chinese initial public offerings (IPOs) contrasts with the local market about a decade ago, when offerings completely stalled. During 2013, not a single IPO was priced in China as the securities regulator cracked down on fraud and misconduct among advisers and companies, with listing resuming only in 2014.

While China's equities market was hurt by the country's strict zero-Covid-19 policy and its effect on economic activity this year, offerings remained strong over the past six months, somehow shrugging off rising inflation woes and hawkish central bank policies that scuppered deals elsewhere.

A total of 39 companies submitted applications to seek listing on Shanghai's Nasdaq-style Star Market in June, more than the first five months combined, according to a report in Shanghai Securities News. They are aiming to raise a combined 47 billion yuan (S$9.7 billion).

Proceeds during the first half were largely boosted by large secondary listings by firms trading in US exchanges that are seeking to trade closer to home due to fears of being kicked out of bourses stateside.

As the second half of the year approaches, one massive deal could add to the already high tally. Syngenta Group is considering a plan to launch a 65 billion yuan IPO on the Star board before the end of the year, potentially one of the world's biggest listings of 2022.