Three stock exchanges from China made it to the world's list of top five biggest exchanges with the most initial public offerings (IPO) earnings in the first quarter of the year, according to professional service firm Deloitte.

The Hong Kong, Shenzhen and Shanghai stock exchanges were among the top five, with Hong Kong Stock Exchange occupying the top spot. The third largest stock exchange in terms of market capitalization and sixth largest in the world listed 19 companies with a total amount of $3.6 billion (23.22 billion yuan). Trailing behind are London and Tokyo at the second and third ranks, respectively.

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When combined, the mainland's stock exchanges on the first quarter have debuted 24 companies, with a total worth of nearly 12 billion yuan, down 76 percent year-on-year because of the regulatory control on offer size and issuance rhythm. Of the newly listed enterprises, the manufacturing industry and TCT (telecommunication, media and tech) sector accounted for 34 and 29 percent, respectively.

Meanwhile, the Shenzhen stock exchange managed to outrank Shanghai, listing 15 IPOs at 6.6 billion yuan. The listings include six small and medium enterprise firms with an average offering size of 652 million yuan and nine growth enterprise market at 297 million yuan.

Shanghai stock exchange only posted nine companies raising 5.1 billion yuan.

There are still more than 700 companies lining up for listing approval, and this year, the mainland will most likely see between 180 and 220 IPOs, according to Deloitte.

Approvals for IPO will potentially speed up, with small and medium-sized tech and manufacturing firms as the most popular, the report revealed.

TagsHong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, stock exchange, IPO, initial public offering