A technician takes care of ganoderma at a processing factory in Pucheng County, southeast China's Fujian Province, Sept. 25, 2019. In recent years, Pucheng has been dedicated to developing special ganoderma industry, which has boosted nearly 300 poverty-stricken households' incomes. (Xinhua/Song Weiwei)

A total of 13 companies have realized IPOs, through the green-passage waiving of related fees, in impoverished regions in China, and some other 66 firms are preparing to list. Experts say that the gathering of capital is the fruit of poverty alleviation.

The 13 companies that realized IPOs have raised 7.4 billion yuan ($1.05 billion) in funds as of October in China, the China Securities Journal reported on Monday, citing Zhao Zhengping, vice chairman of the China Securities Regulatory Commission.

"In recent years, the capital market has attached great importance to the innovation ability of the market. Collecting capital in poor areas has been one of the targets of poverty alleviation," said Zhao.

Statistics show that as of August this year, a total of 79 poverty-alleviation corporate bonds and asset-backed securities have been issued nationwide, with a cumulative issuance volume of 40.7 billion yuan. 

Until now, the market of China's National Equities Exchange and Quotations, also known as the "new third board," has served 315 companies in 179 impoverished counties and districts in 22 provinces, with a total of about 50 million yuan in listing fees reduced or exempted. 169 enterprises in poor areas have implemented equity financing on the new third board, involving about 20 billion yuan, and 19 enterprises have completed mergers and acquisitions, involving 230 million yuan.

"The securities industry in recent years has achieved remarkable achievements in poverty alleviation. By now, at least 101 securities companies have helped the poor county that they are paired with," said An Qingsong, executive vice president of the Securities Association of China (SAC), as reported by the China Securities Journal.

As of October, 38 poverty-stricken counties have been lifted out of poverty by pairing up with 35 securities companies, An explained. "Since 2017, the SAC has called on securities companies to carry out a pairing system to tie each impoverished county with an enterprise to expand the financing channels for enterprises in poor areas."

Data shows that from 2016-18, securities companies helped enterprises in poor areas raise 202.6 billion yuan in financing, including 109 billion yuan in bond financing. In the same period, an industrial fund of 6.51 billion yuan was established and private financing of 6.609 billion yuan was realized.