The IPO indicator is a market capitalization-weighted performance measure based upon IPOs of Chinese companies. Updated monthly, the indicator tracks the performance of A shares and B shares listed on the Shanghai and Shenzhen stock exchanges and H shares listed on the Hong Kong Stock Exchange.

Next Release: May 2008

Current Value: 238.7

Methodology: A stock's float-adjusted market capitalization over time forms the basis for indicator calculations. Stock dividends, stock splits, special dividends, share consolidations, repurchases, spin-offs, and combination stock distributions may trigger adjustments to the indicator values. Only companies incorporated and domiciled in mainland China that go public on the Shanghai, Shenzhen and Hong Kong stock exchanges are included.

Period of Coverage and Frequency: New companies are added to the indicator as soon as they are listed, while current companies are removed after 12 months. The IPO Indicator has a base date of Dec. 31, 1997, when the indicator's value was set equal to 100, and covers the period from Dec. 31, 1991, to the present. Values are calculated on a monthly basis. The indicator for each month is released in the third week of the following month.

Sources of Data: The real-time and historical trading data used in the construction of this indicator are provided by Bloomberg and Xinhua Finance; underlying information used to calculate the float ratio is obtained from a variety of sources, including Xinhua Mergent, stock exchanges, regulators, and the companies themselves. Corporate actions are sourced from Xinhua Finance, regulatory filings and news services.

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