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Report: NYSE may list on mainland market

(Agencies)
Updated: 2008-04-15 09:44

The New York Stock Exchange (NYSE) may be the first foreign firm to win approval from the China Securities Regulatory Commission (CSRC) to list on mainland stock markets, Caijing Magazine reported on its website, citing an unidentified CSRC official.

"Taking into account the NYSE's market value, stable market performance and excellent company management, it has sufficient qualifications" to be a China-listed company, the official said.

The Beijing representative office of NYSE said in the report that the NYSE is seeking to enter China's securities market, but would not elaborate, the report said. It did not say whether the entity that will pursue a listing is the NYSE itself or its parent NYSE Euronext.

The NYSE official opened a Beijing representative office in December.

Last year, China promised to allow foreign firms and red chips to list on domestic bourses, although no specific progress has been made on this initiative.