The number of companies listed on the Chinese A-share market grew since the country adopted a registration-based initial public offering (IPO) system, according to an industry report.

By the end of November last year, there were 4,640 companies listed on the A-share market, up 479 from the beginning of 2021, said the China Association for Public Companies.

The association forecasts that the number will top 5,000 in August this year.

The total value of listed companies also expanded steadily. The number of companies with a value of over 100 billion yuan (about 15.74 billion U.S. dollars) stood at 154, reaching a five-year high, said the report.