NYSE Euronext (NYX) Chief Executive Officer, Duncan L. Niederauer, on his first international trip since becoming the company's CEO, will host the official grand opening of the company's representative office in Beijing, China on Tuesday, Dec. 11, 2007. Joining Mr. Niederauer for this historic ceremony will be senior Chinese and U.S. government officials, CEOs of several NYSE-listed Chinese companies, and other invited guests.
"It is an honor for the NYSE to be the first foreign exchange to have approval to open a representative office in Beijing, and we greatly appreciate the opportunity to officially open our office in Beijing and to further strengthen our relationship with the People's Republic of China and its business community," Mr. Niederauer said. "We especially want to thank the China Securities Regulatory Commission for their ongoing support and the outstanding Chinese enterprises that we are privileged to list on the NYSE."
On Sept. 4, 2007, the New York Stock Exchange was announced as the first foreign exchange to gain approval by the China Securities Regulatory Commission (CSRC) to open a representative office in Beijing. The new office will be occupied by the company's staff and will become the NYSE's center of operations for advancing the company's brand and service to its listed companies in China.
The New York Stock Exchange currently has 49 companies from Greater China, which includes 38 from Mainland China, 6 from Hong Kong and 5 Taiwanese companies. This year, 16 new companies from Greater China have listed on the NYSE, including 14 IPOs. As of Nov. 30, 2007, the total market capitalization of Mainland Chinese companies on the NYSE is $1.1 trillion and for greater China, $1.6 trillion.
