The Chinese mainland led the global initial public offering market in terms of funds raised and the deal number during the first six months, said a report published by PricewaterhouseCoopers on Thursday.

A total of 187 companies were listed on the Shanghai and Shenzhen bourses during the first-half and these companies collectively raised funds to the tune of 146.1 billion yuan ($23.6 billion), indicating that the market is poised for further growth in the next six months.

Of the 187 IPOs, 78 got listed on the main board, 35 on the small and medium-sized enterprise board and 74 on the ChiNext market, China's Nasdaq-style market.

"Both the number of IPOs and funds raised during the first six months on the A-share market surpassed the total for the whole of 2014. The strong growth in the IPO market was the inevitable result of favorable policies issued by regulatory authorities and market reforms," said Frank Lyn, PwC mainland and Hong Kong market leader.

"As the China Securities Regulatory Commission gradually optimizes the administrative approval process for initial public offerings, the time required for examining and approving IPOs and refinancing applications will be shortened, signaling the impending arrival of the registration-based IPO reforms."

The report forecast that 400 companies will undertake initial public offerings in the A-share market this year and raise about 300 billion yuan.

"We foresee more activities in the Chinese IPO market during the second half of the year. These companies will primarily be small and medium-sized enterprises in the industrial, information technology, financial services and consumer goods sectors," said Lyn.

According to the report, since 2014, the number of listed companies in the National Equities Exchange and Quotation System, China's third national equity exchange, has grown rapidly. The market-maker system introduced in August 2014 has pushed the NEEQ to new heights.

There were only 356 listed companies at the NEEQ at the end of 2013. Since then, the number has climbed to 2,615 as of June 30 this year. The annual trading volume at the NEEQ rose to 13 billion yuan in 2014, and during the first six months, surged to 103.9 billion yuan.

Jean Sun, PwC China assurance partner, said: "With no profit threshold requirements, the NEEQ is the ideal starting point for Internet and technology companies in the domestic capital market."

The report also said in the first six months, the Hong Kong and Shanghai bourses were ranked first and second globally, financing 103.4 billion yuan and 103.1 billion yuan, respectively, followed by the New York Stock Exchange and the London Main Board.

Edmond Chan, co-head of capital markets services at PwC Hong Kong, said: "The Shanghai-Hong Kong Stock Connect program has broadened the investor base in Hong Kong, increased the liquidity and trading volumes of both the mainland and Hong Kongstock markets, and increased the value of certain sectors, such as securities, media service and new energy enterprises."

Chan said that the mainland-Hong Kong mutual recognition of funds program is expected to further boost the flow of funds between the two places. The launch of the Shenzhen-Hong Kong Stock Connect later this year will definitely boost the performance of the Hong Kongstock market.

"As basic peripheral factors continue to improve, coupled with the steady growth of China's economy, we believe the Hong Kong market will be the international financing platform for more and more mainland companies," said Chan.