China has again exceeded the United States as the world's top initial public offering (IPO) destination, despite previous market plunges in mainland China and Hong Kong.

According to data provider Dealogic, companies raised a total of US$73 billion via IPOs in Shanghai, Shenzhen and Hong Kong stock markets this year, almost doubled the funds raised in New York Stock Exchange (NYSE) and NASDAQ. Funds raised through IPOs in the U.S. declined by 6 percent this year. The last time the U.S. was the world’s top IPO venue was in 2008.

Hong Kong stock market remains the top IPO venue the third consecutive year in 2011 with total funds raised at US$30.9 billion. Shanghai and Shenzhen Stock Exchange saw companies raising a combined US$41 billion in funds via IPOs.

In NYSE and London Stock Exchange, companies raised US$30.7 billion and US$18 billion via IPOs, respectively.

China's business press carried the story above on Saturday.

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