The New York Stock Exchange (NYSE) officially inaugurated its
Beijing office on Tuesday.
Chinese Vice Premier Wu Yi and U.S. Treasury Secretary Henry Paulson
were present at the opening ceremony.
Chinese Vice Premier Wu Yi (C),
US Treasury Secretary Henry Paulson (2nd L) and New York Stock
Exchange (NYSE) CEO Duncan Niederauer (2nd R) cut the ribbon at an
opening ceremony of NYSE Beijing Representative Office in Beijing
December 11, 2007. NYSE Euronext, parent of the New York Stock
Exchange, on Tuesday opened its Beijing office, joining a march of
bourses to China in search of potential new corporate listings.
(Xinhua)
Chinese Vice Premier Wu Yi (C)
celebrates as she, US Treasury Secretary Henry Paulson (L), and New
York Stock Exchange (NYSE) CEO Duncan Niederauer (R) cut the ribbon
at an opening ceremony of NYSE Beijing Representative Office in
Beijing December 11, 2007. NYSE Euronext, parent of the New York
Stock Exchange, on Tuesday opened its Beijing office, joining a
march of bourses to China in search of potential new corporate
listings. (Agencies)
Chinese Vice Premier Wu Yi
(C) celebrates with New York Stock Exchange (NYSE) CEO Duncan
Niederauer (R) as they and US Treasury Secretary Henry Paulson (L)
attend an opening ceremony of NYSE Beijing Representative Office in
Beijing December 11, 2007. NYSE Euronext, parent of the New York
Stock Exchange, on Tuesday opened its Beijing office, joining a
march of bourses to China in search of potential new corporate
listings. (Agencies)
NYSE was the first foreign exchange to receive approval from the
Chinese government to open a representative office in China.
Paulson said the opening of the office reflected China's World
Trade Organization commitment to open its capital market, and with
the opening of the market, China would be further integrated into
the global capital market.
On Sept. 4, it was disclosed the NYSE had received approval from
the China Securities Regulatory Commission (CSRC) to open a
representative office in Beijing. It was the first foreign exchange
to receive such an approval.
Since July 1, foreign exchanges have been allowed to set up
representative offices after receiving approvals.
"The new office will serve to provide on-the-ground support for
our listed companies and strengthen our presence in China," said
NYSE Euronext (NYX) chief executive Duncan L. Niederauer, who was
on his first overseas trip since becoming exchange boss earlier
this year.
He said as a global economic powerhouse, China would continue to
develop its capital markets and the U.S. side would go forward as a
partner with China to strengthen cooperation.
NYSE Euronext is a holding company that was created by the
merger of the NYSE Group, Inc. and Euronext N.V. in April. NYSE
Euronext started trading on April 4 and operates the world's
largest and most liquid exchange group.
The NYSE lists 36 Chinese mainland companies with a total market
capitalization of 1.5 trillion U.S. dollars.
(Xinhua News Agency December 12, 2007)
