NYSE manager to attend China Economic Summit 2004
By Wangwei (chinadaily.com.cn)
Updated: 2004-05-14 11:04

Joseph Fung, managing director of the New York Stock Exchange (NYSE), who will participate in the China Economic Summit 2004 at the 7th China Beijing International High-Tech Expo, will also attend the "Corporate Financing IPO and M&A (mergers and acquisitions) Symposium" and give a speech May 22 at the China World Hotel.

The symposium aims to educate Chinese firms about foreign stock markets, further expand their direct financing channels, seek suitable stock exchanges so they can issue IPOs, provide a sound environment and good conditions for high-growth firms' technological innovations, support favorable positioned enterprises in the internal and external capital markets and promote the country's high-growth enterprises' rapid development.

The NYSE, one of world's most renowned stock exchanges, became a state stock exchange in October 1934. To date, the NYSE's trading volume has reached eight billion shares or US$360 billion per day. Fung's visit to China suggests that he attaches great importance to the country's market, which has huge potential.

The NYSE, together with other famous stock exchanges and international financial-investment institutions, will hold a discussion on helping Chinese enterprises learn about overseas stock markets and international M&As at the symposium.