China will continue to lead the global initial public offering (IPO) market in terms of the funds raised and the number of deals, international accounting firm Ernst & Young LLP said in a report on July 13.

Mainland companies dominated the global IPO market by raising $188 billion in 495 deals on the top four bourses–New York, London and Hong Kong stock exchanges, and NASDAQ—in the past decade, the report said.

Hong Kong remains the main choice for mainland companies as a listing destination, while American bourses are the choice for small and high-growth information technology companies, said Terence Ho, strategic growth markets and China IPO leader at Ernst & Young.