The current financial turmoil has slowed flotations of Chinese companies on both domestic and overseas markets last month.

No company launched an initial public offering on the Chinese mainland last month since the country's securities regulator tightened approval regulations for new IPOs in September.

Three companies on the mainland were listed on the overseas market, half September's number, according to ChinaVenture Investment Consulting.

The companies were all listed in the Hong Kong market, raising US$461 million in total, jumping 70.9 percent from a month earlier, ChinaVenture said.

Only one of the three listed companies - Renhe Commercial Holding Co Ltd - had received venture capital investment, the report said.

No company was floated in the United States for the last 10 weeks, the worst record in 28 years, ChinaVenture said.

ChinaVenture said in a separate report that China's venture capital market maintained a stable development in the third quarter of this year.

The total number of deals closed reached 86 in the period, compared with 82 in the previous quarter but 23 fewer than a year earlier. Total investments reached US$1.03 billion, rising 51.8 percent on a quarterly basis but dropping 6.8 percent from a year earlier.

The average deal size in the market increased 18.1 percent from a year earlier to US$11.94 million.

IT services, and energy and mining sectors each experienced deals worth more than US$50 million.

(Shanghai Daily November 12, 2008)