A total of 601 Zhejiang-based companies had been listed on stock markets at home and abroad by the end of June, according to the Zhejiang provincial financial regulatory bureau.

In October 2017, the Zhejiang provincial government launched "Phoenix Action", which focused on facilitating Initial Public Offerings (IPOs), mergers and acquisitions among the province's companies between 2017 and 2020. The policy achieved strong results and has consolidated the province's leading position in China's capital market.

Listed companies play a vital role in Zhejiang's industrial restructuring and upgrading. Roughly one third of Zhejiang's listed companies are based in Hangzhou, the provincial capital. Despite the negative impact of the COVID-19 pandemic, nine Hangzhou-based enterprises have completed their IPOs and another seven have been approved by security regulatory bodies this year. Fifteen of the 16 firms are engaged in high-end manufacturing or digital economy.

Keqiao district in Shaoxing city boasts the country's largest textile printing and dyeing industrial cluster. Zhejiang Yuejian Intelligent Equipment Corporation, based in the district, went public on the Shanghai Stock Exchange in April, becoming the 19th listed company in the district. The private corporation, founded in 1976, has gone through a series of business transformations and is now a dedicated manufacturer of intelligent textile machinery, injecting vitality into the district's textile industrial chain.

Listed companies are also a major contributor to the province's employment, finance, investment, foreign trade, and market confidence amid the pandemic. For instance, Yotrio Group, a listed corporation in Linhai city, managed to turn the pandemic-induced crisis into a win, seeing its total exports over the first five months rise by 4 percent to 2.62 billion yuan ($374 million), making up a quarter of the city's aggregate.

Zhejiang Yuejian Intelligent Equipment Corporation, based in Shaoxing city, Zhejiang province, is officially listed on the Shanghai Stock Exchange on April 15, 2020, becoming the 77th listed company in the city. [Photo/ zj.zjol.com.cn]