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Article: NYSE and Nasdaq China Plans Delayed.
- Article from:
- Securities Industry News
- Article date:
- January 29, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NYSE Group and the Nasdaq Stock Market have had to slow their plans to open offices in Beijing. Tu Guangshao, vice chairman of the China Securities Regulatory Commission (CSRC), said Jan. 13 that the openings--and other non-Chinese exchanges' applications--will be on hold while new regulations are considered.
The length of the delay is unpredictable, according to observers of China's capital markets, who see the move as both an indication of the growing strength of China and a reaction to the expanding influence of the Western stock exchanges.
Formal representation in Beijing goes hand in hand with NYSE's Asian expansion objectives, said Big Board ...