NYSE hungry for Chinese listings
By Jamie Thompson (China Daily)Updated: 2006-11-30 11:08
"The Chinese exchanges, particularly Shanghai, are doing much better recently and we have a memorandum of understanding and co-operation with them," Thain said.
"We would like to find ways to work more with the Shanghai Stock Exchange," he said."I don't see the Shanghai Stock Exchange as a competitor.
Thain said the exchange believes it is in the interest of companies to list both in their domestic exchange and on an international exchange.
"We think they get better options being listed on the New York Stock Exchange and it makes sense being listed in the domestic market, too, if that's possible," he said.
He said the NYSE will work with Shanghai companies to list domestically and in New York.
Thain delivered his speech as part of a visit to China to try to attract more listings to the world's largest stock market.
"I always look forward to coming back to China because I get to meet China's next generation of leaders at a very important time for your country and its economy," Thain told audience members at CEIBS."China is rapidly moving to the centre stage to become one of the major players in the world."
During his visit to China, Thain also pushed the NYSE's plan to open a local office in the capital. He said he hopes the NYSE would become the first foreign stock exchange to land in the Chinese mainland.
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