| U.S., China to allow Nasdaq, NYSE open offices in China |
BEIJING, Dec. 15 (AP) -- China and U.S. agreed to allow the Nasdaq market and New York Stock Exchange open formal business offices in China, Chinese Finance Minister Jin Renqing announced Friday at the end of two days of high-level talks with U.S. officials.
Jin did not give a timetable for opening the offices or any other details. Dozens of Chinese companies have listed shares on Nasdaq and the New York Stock Exchange, and both are eager for business as China's economy booms.
The Nasdaq Stock Market Inc. has a representative office in Beijing but that status restricts the scope of its activities, barring companies from doing such things as signing contracts.
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