Others News
- NASDAQ wins nod for Beijing office
Date: 28-Sep-2007 Sources: (Xinhua Online)
NASDAQ Stock Market Inc. said Thursday it has Chinese Government approval to open a representative office in Beijing, weeks after the NYSE Group Inc. said it had obtained similar rights.
The new office will serve marketing functions with local companies and put NASDAQ officials in closer touch with Chinese regulators, according to a statement from the exchange. China agreed to allow U.S. exchanges to open representative offices after consultations this year with U.S. Treasury Secretary Henry Paulson, one measure of a broader effort by the Bush administration to give Wall Street a bigger role as China develops its capital markets.
Among NASDAQ's 3100 listings, shares of 49 China-based companies trade, including 15 new ones this year. The exchange said it has a pipeline of upcoming offerings from China.
In 2004, NASDAQ closed an office in Shanghai that it had had since 1998, as part of a reassessment of how it would target Asian listings. At the time, it had nine Chinese mainland listings.
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