NASDAQ to build station in Beijing's Haidian District

16:31, March 15, 2011      

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The NASDAQ Stock Exchange, the world's largest electronic securities trading market, will build a station in Beijing's Haidian District in 2011 to provide enterprises in the district with listing consultation services. NASDAQ Senior Vice President Nelson Griggs said that the stock exchange welcomes enterprises in Haidian to list publicly on the NASDAQ on March 13.

The Haidian People's Government, the International Cooperation Center of the National Development and Reform Commission and the NASDAQ Stock Exchange signed a strategic cooperation agreement on March 14. Building a NASDAQ workstation in Haidian is a key part of the strategic cooperation agreement. The workstation will be the first liaison office established by the NASDAQ in Beijing.

"Many enterprises in Haidian wish to list publicly on the NASDAQ, but they are not familiar with overseas listing regulations and mainly obtained related information through intermediary agencies in the past," an officer from Haidian's finance office said.

After the establishment of the workstation in Haidian, the NASDAQ will assign employees to work at the station so enterprises in Haidian can directly seek listing consultation from the station, thereby facilitating their communications with the NASDAQ Stock Exchange.

Griggs also said that the workstation will offer consultation and training services as well as help enterprises in Haidian District familiarize themselves with various types of overseas listing procedures. They will help enterprises understand the capital operation mode of American high-tech enterprises and will introduce venture capital institutions to Haidian to help with transnational takeovers and investments.

Haidian District is Beijing's most concentrated area of high-tech enterprises and the area with the largest number of listed enterprises. The number of listed enterprises in the district has reached 183, including 33 overseas listed enterprises. Of them, 17 are enterprises listed on the NASDAQ, accounting for 10 percent of the total number of Chinese enterprises listed on the NASDAQ stock exchange.

By People's Daily Online
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