Xinjiang Goldwind, China's largest wind turbine maker listed in the Shenzhen stock exchange, announced Monday it had decided not to proceed with the global offering in the Hong Kong market this time "in light of the deterioration in market conditions and recent unexpected and excessive market volatility."

In a statement filed to the Hong Kong stock exchange after the end of Monday's morning session, Goldwind said it "would be inadvisable to proceed with" the ongoing IPO in Hong Kong.

"Accordingly, the underwriting agreement relating to the International Offering will not be entered into and the underwriting agreement relating to the Hong Kong Public Offering will not become unconditional," it said.

According to the statement, application money, including brokerage of 1.0 percent, transaction levy of 0.004 percent and HK stock exchange trading fee of 0.005 percent, will be refunded in full without interest.

The Urumqi-based wind turbine maker said earlier this month that it planned to raise some 8 billion HK dollars (1.03 billion U. S. dollars) through a global offering in Hong Kong.