SGX keen to set up representative office in China

Business News

Apr 30, 2007, 1:39 GMT

Singapore - The Singapore Exchange (SGX) is eager to set up a representative office in Beijing following steps toward removal of the last regulatory obstacles, news reports said Monday. Beijing drafted rules last week for foreign stock exchanges to set up representative offices and began soliciting public comment. The moves followed a visit last week by US Treasury Secretary Henry Paulson, when China agreed that the New York Stock Exchange and Nasdaq could open offices. 'We are interested to have a representative office in China,' The Business Times quoted Gan Seow Ann, SGX senior executive vice- president, as saying. 'When the rules are finalized, we propose to apply for one.' As of March 31, the SGX has attracted 117 Chinese companies to list. Setting up a representative office would allow the SGX 'to be located at the heartbeat of its key market and make it easier for SGX to convince more Chinese companies to list in Singapore,' an analyst with a foreign brokerage told the newspaper. © 2007 dpa - Deutsche Presse-Agentur

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SGX keen to set up representative office in China

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