NYSE hungry for Chinese listings
By Jamie Thompson (China Daily)Updated: 2006-11-30 11:08 The head of the New York Stock Exchange (NYSE) confirmed the bourse will be setting up an office in Beijing as it tries to draw more entrepreneurial companies from China to list in New York.
 John Thain, chief executive officer of NYSE |
John Thain, chief executive officer of the NYSE group, also said he was keen to find ways of working with the Shanghai Stock Exchange, such as helping Chinese companies launch dual listing in Shanghai and New York.
Thain made the comments during a speech to business leaders and students in Shanghai on Tuesday.
Thain confirmed reports that the NYSE is planning to open an office in Beijing in a bid to get more Chinese firms to list on the US bourse. It has offices in Hong Kong and Tokyo.
The exchange currently has 31 listed Chinese companies, including 18 from the mainland.
"We have welcomed leading Chinese entrepreneurial companies and we strongly believe that Chinese companies can benefit from their relationship with us," Thain said in the speech at the China Europe International Business School (CEIBS). "There's huge investor demand in the United States for these entrepreneurial Chinese companies."
Chinese entrepreneurial companies have been among the NYSE's hottest initial public offerings this year.
Thain also outlined his hopes of working more closely with Shanghai.
Last week, the Composite Stock Index on the Shanghai Stock Exchange broke the
2,000-point level for the first time in five years.
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