China's largest wind power producer yesterday announced plans to float shares in Hong Kong, the latest in a wave of Chinese companies that aim to raise an estimated $25bn in the coming months in the territory and on the mainland.

Xinjiang Goldwind Science & Technology's offering is one of more than 30 announced in Hong Kong in the past month, as companies rush to take advantage of buoyant stock markets and robust investor demand for emerging equities.

The trend has accelerated as markets recovered this year and following China's decision in June to resume initial public offerings in Shanghai after a nine-month suspension. Fear that a glut of new share issuance would drain liquidity from the stock market played a role in the Shanghai Composite's 21.8 per cent tumble last month – and some analysts predict it will lead to further falls.