Nasdaq, NYSE set up shop in China

Nasdaq Stock Market Inc. has opened an office in Beijing, in an effort to attract more Chinese firms to list on the exchange, according to published reports.
The New York-based exchange said that having an office would also enable it to forge deeper ties with China’s exchanges and regulators, according to a Reuters report.
Nasdaq currently trades the shares of 52 Chinese companies with a combined market capitalization of $57 billion.
NYSE Euronext Inc., the parent company of the New York Stock Exchange, also announced today that the company will host an official grand opening of its representative office in Beijing next week.
The NYSE on Sept. 4 received approval from the China Securities Regulatory Commission to open a representative office in Beijing.
The NYSE currently trades shares of 49 Chinese companies with a market capitalization of $1.6 trillion as of Nov. 30.
Last year, China agreed to let Nasdaq and the New York Stock Exchange establish offices in that country (InvestmentNews, Dec. 15) .