The market capitalization of China's high-tech firms listed on the A-share market, or the Chinese mainland yuan-denominated stock market, grew substantially in 2025, driving the broader market's expansion, according to a report from the China Association for Public Companies.

According to the report, the total market cap of listed high-tech companies soared by 33.3 percent and 32.1 percent, respectively, last year in the manufacturing, as well as sci-tech research and tech service sectors compared to the start of 2025. Consequently, these two sectors' share of the total A-share market cap also rose by 4.2 percentage points and 0.1 percentage points, respectively.

By the end of 2025, the total market cap of all 5,469 A-share companies reached 123 trillion yuan (17.52 trillion U.S. dollars). In 2025 alone, 116 firms were newly listed, according to the report, adding that those listed before Jan. 1, 2025, saw their total market cap grow by 22.5 percent.

Investor confidence was further evidenced by a 2.4-percentage-point increase in capital allocation to A-share investments by public offering funds, according to the report.

Meanwhile, the total market cap of private listed companies jumped 37 percent in 2025, with their share of the total A-share market capitalization rising from 33.6 percent to 37.5 percent. State-owned enterprises accounted for nearly 50 percent of the total market capitalization, the report said.

In 2025, a combination of policy support, technological breakthroughs, and broader opening up has improved the investment environment and strengthened the appeal of Chinese assets. The benchmark Shanghai Composite Index surged more than 18 percent in 2025, marking its best annual performance in six years.