Nasdaq OMX to help businesses from China's Tianjin to go public abroad

TIANJIN, May 14 (Xinhua) -- The U.S.-based Nasdaq OMX Group Thursday signed a memorandum of understanding with the government of Tianjin, the largest coastal city in northern China, on cooperation to help local Chinese businesses to go public abroad.

Under the accord, the American group will provide financing and information services -- in market research, corporate management and investment analysis in particular -- for listed companies from Tianjin.

Nasdaq pays great attention to the Chinese market, which promises wide development prospects, according to Robert H. McCooey, Jr., who is in charge of newly listed companies and capital market with the American group.

He said now there were 97 Chinese firms listed on Nasdaq. Among108 companies listed on the bourse last year, 22 came from China. China boasts the second largest number of Nasdaq-listed companies next only to the United States, he said.

As the world's largest stock exchange, Nasdaq OMX Group, with more than 3,800 companies listed, provides trading and related technical services for companies around the globe. It has set up representative offices in Beijing and Hong Kong.

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