A report published by auditing firm PricewaterhouseCoopers said the number of China's initial public offerings (IPOs) this year could top the world and could result to fund raising of up to US$46.13 billion.

Despite the stock market rout last year and, recently, the US$590 billion China sell-off that rattled global stock markets, more companies are expected to list in the mainland Chinese market this year and push the country's IPO market as the world's number one.

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In China's A-share market, the number of new IPOs it expected to reach 400, raising about Rmb300 billion (US$46.13 billion), up from last year's 219 companies and US$24.39 billion fund raising.

The auditing firm also stressed that the implementation of the registration-based stock listing and the expected launch of a new board for innovative Chinese firms will further drive the pick up in IPO activities this year.

China has moved from approval-based to registration based IPO system, similar to what is being implemented in the US and other countries. The approval-based system allows the market to play a bigger role in deciding the value of companies, the PwC added.

Meanwhile, another report published by Ernst & Young (EY) showed that global IPO offerings in the Asia-Pacific region is forecast to continue its rally in terms of listings this year.

In 2015, the region saw 673 IPO deals, making it the only region to post improvement on a year-on-year basis. This year, EY was confident that the Asia-Pacific region's IPO market will continue to rally, driven by Hong Kong and China.

Over 100 companies are waiting in the IPO pipeline in Hong Kong while China has nearly 700 IPO-ready companies waiting to launch. 

TagsChina IPO, China stock market, China A-share Market, China Equities, China IPO Listing