Nasdaq yesterday became the latest global exchange to open a representative office in Beijing, as the battle to lure fast-growing Chinese companies to list on overseas markets intensifies.
The technology-focused US exchange and the New York Stock Exchange are the first foreign groups to exploit a recent change of rules that permits non-Chinese bourses to establish marketing offices on the mainland.
The office will allow Nasdaq to publicise US capital markets to Chinese companies wishing to enter the “big league”, according to Michael Oxley, the vice-chairman and a former US lawmaker.
In recent years, several hundred Chinese companies have flocked to list in Hong Kong. This year, an increasing number of mainland companies have listed in Shanghai and Shenzhen.