The New York Stock Exchange (NYSE) is likely to be the first foreign firm allowed to list on the Chinese stock market, a Chinese financial website reported on Monday.
Caijing.com.cn, the website of a Chinese financial magazine, cited an unnamed official at the China Securities Regulatory Commission.
NYSE is more likely to win the Chinese regulators' recognition and to be the first foreign listing in China to issue A shares because of its market value, its stable market performance and standardized management, said the unnamed official.
NYSE's current market value is 17.3 billion US dollars, with the a 52-week high price of 96.56 US dollars, and low of 55.12 US dollars.
NYSE's Beijing Office said to Caijing magazine that the NYSE have a strong desire to enter China's securities market, but it can not confirm that information and disclose more details.
The China Securities Regulatory Commission approved the NYSE to establish office in China's Beijing September 4, 2007. Since then, NYSE became the first series of foreign stock exchange approved to set up representative offices in China.
Public information shows that HSBC, the Bank of East Asia, DBS Bank and a number of other foreign-funded enterprises previously have expressed interesting in entering China's A-share market, and said that they had communicated with China's management. Jue Bo, the assistant General Manager of the Shanghai Stock Exchange(SSE).