China Allows Nasdaq, NYSE to Set up Shop – AP

From AP via Business Week:

China has agreed to allow the Nasdaq Stock Market and the New York Stock Exchange to open formal business offices in China, Finance Minister Jin Renqing announced Friday.

Jin did not give a timetable for opening the offices or any other details. The announcement came after two days of high-level talks with U.S. officials.

Dozens of Chinese companies have listed shares on the Nasdaq and NYSE Group Inc.’s New York Stock Exchange, and both are eager for business as China’s economy booms.[Full Text]