NYSE Euronext opens Beijing office

The New York Stock Exchange will be the first foreign stock exchange to open a representative office in China, published reports said.
In July, China approved new rules that allow foreign representative offices in the country, and now with the China Securities Regulatory Commission’s approval, the NYSE have access to the world’s fastest-growing economy, reports said.
The approval fulfills a pledge China made at the first meeting for the U.S.-China Strategic Economic Dialogue last December.
Similarly, China allowed the Hong Kong Exchanges and Clearing Limited to be established in 2003 according to the Closer Economic Partnership Arrangement with Hong Kong.
NYSE Euronext will have an office in Beijing, but will be restricted to liaison, promotional and research activities, and will be required to submit reports to the CSRC about office operations and information on Chinese firms and members, the report said.