NASDAQ to name new executive to China

A NASDAQ executive has said the company will soon name a new chief representative to China and will take the opportunity to enhance its presence in the China market.

The resignation of Huang Huaguo, NASDAQ's former chief representative to China, will not affect the company's valuation of the China market, said Ghanshyam Dass, NASDAQ's managing director for Asia.

Huang's resignation and the closure of his former Shanghai office in May induced public speculation that NASDAQ would leave the Chinese market. Dass has denied this.

On the contrary, he said, the company plans to enhance its presence in China and will soon announce its new organization chart for greater China.

In fact, Dass said, NASDAQ named a new director to the Asia-Pacific region more than a month ago. The new position showcases the importance NASDAQ attaches to the China market, he said.

NASDAQ will keep to its long-term commitments to Chinese businesses and would soon be launching new services, said Dass.

He discounted the idea that NASDAQ was "exclusively for Internet service providers," saying that his company targeted all types of businesses with potential.

Dass is in China to prepare for a gathering among Chinese executive masters of business administration (EMBA), an event scheduled for September. Several senior executives from NASDAQ will be giving lectures at the gathering.