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The Nasdaq Stock Market, Inc. ("NASDAQ(r)") (Nasdaq:NDAQ) and the Shenzhen Stock Exchange (SZSE) today announced the signing of a Memorandum of Understanding (MOU) to develop channels of communication between the two markets.
Robert Greifeld, President and Chief Executive Officer of NASDAQ, said "In addition to the CSRC's approval to establish our office in China, this MOU further reflects NASDAQ's commitment to the China market and our on-going dialogue with the mainland's stock exchanges. We look forward to sharing our knowledge with the SZSE and to learning from them to improve our offering to Chinese companies and investors and to contribute to the maturation of local markets."
Adena Friedman, Executive Vice President of NASDAQ Corporate Strategy added, "Since its founding in 1990 the SZSE has made impressive strides in its technological development. By increasing the lines of communication between the two exchanges, this agreement benefits market participants and the financial services industry in the U.S. and the People's Republic of China."
Zhang Yujun, General Manager of the SZSE said, "The Shenzhen Stock Exchange has been actively engaged in the construction of multi-level capital markets. The uniqueness of the Shenzhen Stock Exchange is to serve the direct financing requirements of the small-and-mid-sized enterprises and we therefore warmly welcome the MOU with NASDAQ. We are keen to learn from NASDAQ, in particular in the areas of technological development, market regulation and improving our services to technology companies. The Shenzhen Stock Exchange will seize the opportunities provided by the MOU, enhancing the communication and corporation with NASDAQ, further facilitating the information sharing and exchange programs for staff, so as to improve the competitiveness of both exchanges."
About NASDAQ
After more then ten years of commitment to China, NASDAQ currently lists 49 Chinese companies with a combined global market cap of approximately US$48 billion.
Largest NASDAQ listed Chinese companies by market cap:
- Baidu.com, Inc. - $10.1bn (Internet Content - Info)
- Focus Media Holding Limited, FMCN - $6.4bn (Advertising Sales)
- Ctrip.com International, CTRP - $3.3bn (E-Commerce)
- Shanda Interactive Entertainment, SNDA - $2.7bn (Internet Content -Entertainment)
- Sina Corporation, SINA - $2.6bn (Web Portals)
Sector Diversity:
- JA Solar Holdings Company Ltd. JASO - $2.2bn (Alternative Energy)
- China Medical Technologies, CMED - $1.1bn (Medical Equipment)
- Home Inns & Hotel Management, HMIN - $1.1bn (Hotels)
- Spreadtrum Communications Inc. SPRD - $622m (Semiconductors)
NASDAQ is the largest U.S. equities exchange. With approximately 3,100 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/
Shenzhen Stock Exchange is one of the two stock exchanges in mainland China. As a young exchange with 17 years history, it has recorded remarkable growth over these years. Traded on the SZSE are 644 Chinese companies from all kinds of sectors. Gross market capitalization is an equivalence of US$932 billion. On an average daily basis, equities worth US$12 billion are traded. The year of 2007 saw 74 IPOs on the SZSE. SZSE aims to make itself a multi-tier marketplace with different classes of activities in equity market. For more information about SSE, visit the SZSE website at www.szse.cn.
