By DPA
Beijing : The London Stock Exchange formally opened an office in Beijing Friday to support listings in London by Chinese companies.
British Prime Minister Gordon Brown, now in China on an official visit, and other senior British and Chinese officials attended the opening ceremony for the new office.
“We feel sure that having a permanent presence in Beijing, the capital of one of the world’s fastest growing economies, will ensure we remain the world’s most successful major exchange for capital raising by international companies,” said Clara Furse, the chief executive of the London Stock Exchange.
“We are particularly pleased to play a role in supporting China’s global companies and industrial development goals,” Furse said in a statement.
The opening came during Brown’s first visit to China as prime minister, on a day when Chinese and British officials signed eight agreements and promised a huge expansion of bilateral trade over the next few years.
“The presence of the British prime minister underlines our government’s strong support for our strategic relationships in China,” Furse said.
The London Stock Exchange lists 68 Chinese companies, more than any other major international exchange.
It said its new office, its second in the Asia-Pacific region after Hong Kong, would enable it to “assist more Chinese companies to be global leaders.”
NYSE Euronext, the holding company of the New York Stock Exchange (NYSE), also opened an office in Beijing last month to “advance the company’s brand and service to its listed companies in China.”
The NYSE said last month that it had 38 listed companies from mainland China, including 16 new listings in 2007.