(Yicai Global) Nov. 30 -- Some 22 Chinese companies have listed abroad so far this year, 69.23 percent more than the whole of 2016, while the value of funds raised has soared 50.77 percent to CNY23.8 billion (USD3.6 billion), according to data covering Jan. 1 to Nov. 29.

The China Securities Regulatory Commission (CSRC) is now streamlining the process for companies to get approval for an overseas listing, Securities Daily reported today, quoting Li Chao, vice president of the regulator, as saying at a recent forum. The commission will also improve policies covering mergers between A-share listed firms and overseas China-invested companies, said Zhang Shenfeng, president CSRC.

Hong Kong is still a major market for Chinese companies to go public. Some 116 companies have listed in Hong Kong this year to date, 7.4 percent more than the whole of last year. The amount of funds raised was just CNY82.64 billion, down 46.7 percent from figures for full-year 2016.

The big dip in financing was caused by an increase in the number of new shares on the Hong Kong Growth Enterprise Market, but large-scale companies also saw a decline, analysts said. The Hong Kong market is gradually evolving into an attractive destination for small- to medium-sized enterprises with high growth to list, they added.

Insiders suggest that in the fourth quarter of this year, the number of overseas-listed Chinese companies will peak. At the same time, the Chinese government will complete laws and regulations that will see more financial and science and technology firms go public in Hong Kong.