Depressed market for China's IPOs

Only 10 Chinese mainland companies were listed in the first quarter of 2013 with total financing of 6.3 billion yuan ($1.01 billion), a drop of 84 percent year-on-year, according to a report by ChinaVenture Group on Thursday.

The 10 firms all went public in Hong Kong, with one of them invested by private equity and venture capital.

With IPOs in the A-share market stagnating and those in the United States inactive, the number of Chinese companies listing in the first quarter and the finance involved were the lowest since 2009.