Exchange calls for closer US, China ties - ResearchInChina
Date:2008-04-24
liaoyan Text Size:
SECURITIES regulators and exchanges in the United States and China should work together to seek opportunities for closer cooperation to promote multiple listings, a senior official with NYSE Euronext said in Shanghai yesterday.
Catherine R Kinney, group executive vice president and head of global listings of NYSE Euronext, said closer liaison should be promoted when China launches an international board this year to allow qualified overseas companies to list on mainland exchanges.
NYSE Euronext, the holding company created by the combination of NYSE Group Inc and Euronext NV in April last year, is the world's largest and most liquid exchange group.
"I hope there will be opportunities for companies listed on our platforms to be traded in China and A-share companies here to come to our market ... we should work together," said Kinney, who was in Shanghai for a two-day business trip.
Different goals
On Tuesday, the Ministry of Commerce issued a document saying that China will encourage qualified foreign companies to list on the mainland this year.
Kinney also welcomed Chinese companies to trade on the four platforms under the NYSE Euronext, including the NYSE, Euronext, Arca and Alternext, which serve companies of varying sizes and with different goals.
For example, Arca and Alternext, the growth boards for the United States and European markets respectively, serve fast-growing start-up companies.
"There is a huge demand for capital among Chinese enterprises in small and medium sizes," said Kinney. "China's planned growth board alone may not meet that demand."
China Corn Oil SA and Huacheng Real Estate are two Chinese companies that have already made initial public offerings on Alternext.
Welcome to our website. This service is open to member only.
Contact our customer service team
Tel: 86-10-82600828, 82600893
Fax: 86-10-82601570
Email: report@researchinchina.com