BEIJING -- Companies listed on Chinese A-Share market through initial public offerings (IPOs) and the funds raised will hit a record high in 2021, according to a recent report released by the consulting firm Ernst & Young (EY).

A total of 492 companies are estimated to be listed on the Chinese A-share market in 2021, up 25 percent year on year, and the proceeds raised expanded by 14 percent from a year ago to reach 536.3 billion yuan ($84.26 billion), data from the report showed.

The Shanghai and Shenzhen stock exchanges are expected to rank second and third, respectively, among global bourses by the number of IPOs.

Six Chinese companies entered the world's top 10 IPOs in terms of the funds raised, according to the report.

It also revealed that 2021 has been the most active year for IPOs in the past two decades globally, with a total of 2,388 companies going public worldwide and raising $453.3 billion by the time of this report's release. The number was up by 64 percent and 67 percent, respectively, compared with last year.