Despite the recent stock market rout in China and the continuous volatility in the Chinese markets, more Chinese companies are hoping to raise funds by launching initial public offerings (IPOs) this year, according to data tracker ChinaVenture.

Based on latest statistics, at least 747 Chinese companies are in line to proceed with their IPOs in China this year as of January 28, with 102 of these companies already receiving government approvals.

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The figures mean that the Chinese stock market is likely to see a huge number of IPOs this year despite the many challenges that the market has been facing. Recently, the stock exchange in Shanghai was halted two times in one week due to sudden spike in market prices.

Last year, China also experienced a stock market rout that triggered the multi-billion-dollar stock market selloff.

While the figures released by ChinaVenture point to a busy stock market this year, Chinese companies remained cautious as only 9 firms listed on the Chinese stock exchanges in January.

According to ChinaVenture, the nine Chinese firms raised Rmb3.8 billion (about US$579 million) last month, down 72.7 percent year-on-year.

One of the firms listed on the Small & Medium Enterprise Board on Shenzhen while eight listed in Hong Kong. There was no IPO by Chinese firms in the US in January, the report added.

It was in January when Chinese authorities launched the stock market circuit breaker, a mechanism that automatically suspends trading in the event of a sudden drop or rise of stocks.

China's stock market regulator, however, was forced to pull out the circuit breaker as the automatic suspension triggered another selloff that wiped out billions of dollars from the market.

China is in the process of launching a new registration-based system for IPOs in the country.

TagsChina stock market, China Stock Exchange, China IPO