NYSE Approved for China Office
The China Securities Regulatory Commission (CSRC) approved the New York Stock Exchange Group (NYSE).
The NYSE is the world’s largest bourse and will become the first foreign stock exchange with the government’s approval to establish a presence on the mainland.
The move is part of the first round of the Sino-US Strategic Economic Dialog held in December, when China promised to allow foreign exchanges to set up shop.
The first representative office will be set up in Beijing with seven mainland
companies already listed.
NASDAQ submitted its application in June of this year and expects approval soon.
The tech-heavy NASDAQ already has attracted 14 mainland companies to list on its bourse.
Soon we will be able to see how traders win and lose other people/companies’ money on the big board.
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