A total of 13 companies from Ningbo, East China's Zhejiang province made initial public offerings (IPOs) at A-share markets in 2020, according to local media reports.

The figure placed Ningbo eighth among all cities in the nation. The listed enterprises are primarily from sectors including auto parts, machinery equipment and chemicals.

To date, Ningbo is home to 112 listed companies. The number of A-share listed companies – they make up a total market value of more than 1 trillion yuan ($153.85 billion) - in the city stands at 93. 

As of Dec 31, eight companies saw their share prices double in the past year. The three companies that experienced the biggest growth are Ginlong Technologies, Loctek and Orient Cable, with share prices surging by 494 percent, 191 percent and 126 percent respectively.

Ginlong Technologies posted outstanding results in 2020. In the first three quarters, its operating revenue reached 1.351 billion yuan, up 74.31 percent year-on-year. The net profit attributable to shareholders of the listed company was 210 million yuan, up 188.84 percent year-on-year.

Ningbo has also seen a notable improvement in its financial services, which enables more local enterprises to achieve growth by leveraging the capital market.

On Dec 16, the Shenzhen Stock Exchange inaugurated a capital market service center in the city.

On Nov 9, Yongxing Securities Co Ltd, a Ningbo-based securities trader, was officially inaugurated. The company is the only comprehensive securities company in Ningbo, as well as the first domestic securities company to be approved by the China Securities Regulatory Commission in the past 10 years.