Most of the deals launched this year were leftover mandates from two years ago, said Kester Ng, the head of Asia equity capital market at JP Morgan.

'If you can do an IPO now, then you should just go ahead,' said Ng. 'At least that's what we have told our clients.'

Bond and rights issues would also increase next year for mainland banks to grow their lending businesses, he said.

Mainland banks are under government pressure to sustain loan growth of as much as 300 billion yuan (HK$340.56 billion) over the next few years.

The lenders have already extended 9.72 trillion yuan in new loans since November last year.

Reuters reported earlier this week that China Construction Bank Corp was considering issuing about 20 billion yuan in subordinated bonds to supplement its capital.

Ng also expects more real estate firms in Asia to raise funds from flotations next year, but he does not expect them to be as aggressive as they have been this year.

A number of debt-laden mainland developers have had difficulty raising funds from listings this year.

Companies such as Powerlong Real Estate Group and Mingfa Group (International) had to cut their offering sizes, while Excellence Real Estate Group delayed its share sale.

When it comes to tapping overseas capital, Rohit Chatterji, the head of Asia debt capital markets at JP Morgan, said it remained expensive for mainland developers to raise funds by issuing US dollar-denominated bonds and many companies would choose to issue bonds in yuan.

The United States investment bank also expects more merger and acquisition-driven financing next year.

The volume of merger and acquisition activity this year in Asia had not picked up because chief executives were cautious and did not want to take risks, but the situation might improve next year, said JP Morgan.