Total funds raised through initial public offerings (IPOs) in China are expected to rise nearly 47 percent to 152 billion yuan this year from 103.5 billion yuan in 2008, according to a report from PricewaterhouseCoopers.

The report, released yesterday, goes on to add that it expects the capital markets to recover later this year and the bulk of the listings to happen in the second half.

The total number of new listings this year is expected to touch 88, with 80 of them on the Shenzhen SME Board, said the report.