China Everbright Bank raises $2.8 billion in the country's second-biggest IPO of 2010

China cemented its position as the global IPO champion yesterday when China Everbright Bank raised Rmb18.9 billion $2.8 billion in the country's second-biggest initial public offering of the year. It is the fourth-largest in the world in 2010.

So far this year, Chinese companies have launched 261 IPOs on both domestic and overseas stock exchanges, raising a total of $63.7 billion -- already more than the $50.6 billion raised in 2009, and 46.8% of global IPO volume this yead, according to data from Dealogic.

The trend shows no signs of abating. PricewaterhouseCoopers PwC says that Chinese enterprises will continue coming to China and Hong Kong to raise capital in the...