NYSE opens its representative office in Beijing!!!

NYSE opens its representative office in Beijing!!!
Sep 6, 2007 04:16
KATRINA Points: Join Date: Nov 29, 2004 Status: offline	It is reported that CSRC (China Seucrities Regulatory Commission) has approved NYSE(New York Stock Exchange)'s application to open its representative office in Beijing. Before NYSE, only Hong Kong Stock Exchange set up its representative office in Beijing. Meanwhile, many Stock Exchanges from other nations also plan to set up their representative office in China. Some have submited their applications to CSRC. According to the report, the NYSE can only do non-operating activities including liaison,promotion and research and is required to submit reports to the CSRC on the work of its Beijing office as well as on the information of its listed Chinese firms and members. This reflects the positive result of the first strategic economic dialogue bewteen China and US.

Sep 6, 2007 04:16

KATRINA
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Join Date: Nov 29, 2004
Status: offline

It is reported that CSRC (China Seucrities Regulatory Commission) has approved NYSE(New York Stock Exchange)'s application to open its representative office in Beijing. Before NYSE, only Hong Kong Stock Exchange set up its representative office in Beijing. Meanwhile, many Stock Exchanges from other nations also plan to set up their representative office in China. Some have submited their applications to CSRC.

According to the report, the NYSE can only do non-operating activities including liaison,promotion and research and is required to submit reports to the CSRC on the work of its Beijing office as well as on the information of its listed Chinese firms and members. This reflects the positive result of the first strategic economic dialogue bewteen China and US.

Sep 6, 2007 23:00

YVONNE
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Join Date: Nov 29, 2004
Status: Offline

It seems that they are very interested in China's stock market. Is that because share prices in market are skyrocketing? I believe that to set up representative office in China is just their first step. What they really want is to make profits. In order to regulate and ensure the stock market develop healthily, China won't approve all their applicaitons and let them crowd into the stock market. Aren't they afraid of the bubble in the stock market?

Sep 6, 2007 23:06	#2
LEOPOLD219 Points: Join Date: Feb 7, 2007 Status: Offline	"This reflects the positive result of the first strategic economic dialogue bewteen China and US." Is this the first positive result? I doubt. The Sino-US trade tie has developped for several decades. This is the first positive result. Unbelievable. Has the bilateral trade tie been staggering in the past several decades?

Sep 7, 2007 01:05

KEVIN0518
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Join Date: Mar 13, 2007
Status: Offline

Leopold, I think that you misunderstood it. The opening of NYSE's representative office in Beijing symbolizes the positive result of the first strategic economic dialogue between China and US, which was held in Washington in December last year. According to the agreement, China will gradually expand the business scope of qualified joint-venture securities companies to allow them to be engaged in securities brokerages.

At present, China has gradually realized its promise. NYSE sep up its representative office in Beijing is an good example. I believe that more securities will establish their branches or representative offices in China. Of course, it is not the first positive result made since China and US established trade tie.

Sep 8, 2007 19:22	#4
ERENCIUS Points: Join Date: Aug 26, 2007 Status: Offline	Ok so we can see this event as a kind of reward isn't it ? Many things are still to deal with though: the parity of the Yuan, IP law issues... Hope it will continue this way.

Sep 11, 2007 04:35	#5
ICEBERG Points: Join Date: Sep 10, 2007 Status: Offline	Yes, dialogue is the best way to solve the dispute. Trade barrier only can make the situation worse and worse. Hope bothe parties can make more achievements.

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