NASDAQ announces more support for Chinese firms

NASDAQ has announced that it is increasing its support for Nasdaq-listed companies in China. A new China Chief Representative will also be appointed in the coming months, according to a report posted on CRIENGLISH.com Tuesday.

This announcement reflects NASDAQ's strong long-term commitment to the Chinese market and follows the upsurge of Chinese companies choosing to make their Initial Public Offering or secondary offerings on NASDAQ.

Bruce Aust, Executive Vice President, Corporate Client Group, commented that as the world's largest electronic stock market, NASDAQ is the natural home for Chinese companies seeking to list overseas.

He adds that NASDAQ opened its first office in Shanghai in 1998 and the company is committed to strengthening its presence in China by developing the on-the-ground support and service structure and increasing senior-level focus from the New York headquarters.

NASDAQ expects to announce soon the appointment of a new Head of Asia Pacific, who will oversee a review of the staffing needs and location of the NASDAQ China office.

A new China Chief Representative will also be appointed in the coming months.

So far, a group of influential Chinese companies have listed on NASDAQ, such as AsiaInfo Holdings, Netease.com, Shanda Interactive Entertainment, Sina.com, Sohu.com and Tom Online.

Source: CRIENGLISH/Xinhua