BEIJING - As much as 300 billion yuan ($47.6 billion) is expected to be raised through IPOs on the Shanghai and Shenzhen stock exchanges this year, the accounting firm PricewaterhouseCoopers (PwC) said in a report on Wednesday.

The firm forecast Shanghai A shares will attract about 40 IPOs. And the Shenzhen SME Board and ChiNext, an exchange where shares mainly of high-tech companies are traded, will attract about 260 IPOs in 2012. PwC predicted those deals will raise 270 billion yuan to 300 billion yuan.

China managed to keep its lead position in the global IPO market in 2011 as measured by the IPOs held on and the money raised by its exchanges in Shanghai and Shenzhen.