Nasdaq to cooperate with Chinese markets

China plans to launch its own Nasdaq-style market for start-up companies this year.
Additionally, Nasdaq Stock Market Inc. and its Chinese counterpart, the Shenzhen Stock Exchange, agreed improve their business cooperation and information sharing, said Zhang Yujun, general manager of the Shenzhen exchange, according to a Reuters report.
The Shenzhen exchange, which is also preparing to launch China’s second broad market, will introduce domestic small- and medium-sized companies to list on the Nasdaq in the future, said Robert Greifeld, Nasdaq’s chief executive, according to the report.
Mr. Greifeld was in Shanghai for the signing of a memorandum of understanding and to participate in a forum of exchange officials.
Last month, Nasdaq won approval from the China Securities Regulatory Commission and set up a representative office in Beijing.
China has already approved two foreign exchange — including Nasdaq and NYSE Euronext — to open official representative offices in China.
Nasdaq also signed a memorandum of understanding with the Shanghai Stock Exchange, where most Chinese heavyweights are now listed (InvestmentNews, October 25, 2006) .