The Nasdaq Stock Market Inc. opened an office in Beijing Tuesday, a move that will allow it to engage in deeper dialogue with Chinese exchanges and regulators. In a statement, the company said establishing a presence in Beijing would help attract more Chinese companies to list on its exchange. Stock exchanges around the world are vying to attract Chinese companies because investor confidence in the world's fourth-largest economy has created strong demand for investments in Chinese companies.
The total market capitalization of the 52 Chinese companies listed on the Nasdaq has reached $57 billion. So far this year, 19 companies have gone public on the Nasdaq compared with nine last year.
In late December, China gave the green light to the New York Stock Exchange and Nasdaq to set up liaison offices in Beijing. NYSE Euronext, the parent company of the New York Stock Exchange, said Monday it plans to open its representative office in Beijing on Dec. 11.