(Yicai) March 14 -- The offshore initial public offerings market in China has bounced back, with the recovery trend expected to continue, according to Wang Yajun, co-lead of equity financing at Goldman Sachs Asia, excluding Japan.

There has been a significant increase in the number of 'A+H' listings this year, Wang noted at the international financial institution's media briefing yesterday. With the comprehensive recovery of the offshore issuance market and the faster return of international long-term investors, this wave of 'A+H' listings will likely continue for two years, he added.

'A+H' listings refer to firms trading in the Chinese mainland and Hong Kong.

Chinese companies raised USD44.8 billion offshore last year, up from USD19.5 billion the year before, indicating the emergence of a clear turning point despite the figure remaining short of the historical average of USD75 billion, according to UK data provider Dealogic.

Over the past 10 weeks, the funds Chinese firms have raised offshore surged 23-fold to USD13 billion as of yesterday from a year earlier, Wang said, pointing out that if this trend continues throughout the year, the annual figure could reach around USD65 billion.

January and February are typically considered a low season for financing, so USD13 billion can be considered very active, Wang noted

IPOs in the consumer sector will likely be among the first to take off, as their business models are simple and easy to understand, making research easier and reducing the complexity of investment decisions, according to Wang. In addition, consumer firms face relatively lower geopolitical and operational risks, he added.

This year, the largest companies that went public on the Hong Kong bourse included new-style tea brands Mixue Ice Cream & Tea and Goodme and toy maker Bloks Group, all attracting international investors.

Mixue's offshore offering by anchor investors was oversubscribed by 70 times, that of Goodme by 15 times and of Bloks by 39 times, according to the Hong Kong Stock Exchange. In addition, the number of medium and long-term investors exceeded 20 for each of the three firms.

Editor: Martin Kadiev