Over 20 Chinese companies to get listed on LSE by 2010

(Xinhua)
Updated: 2008-06-28 11:47

BEIJING -- There will be more than 20 Chinese firms to be listed on the London Stock Exchange (LSE) by 2010, Alderman David Lewis, the Lord Mayor of the City of London, was quoted as saying.

Lewis said this is part of the deal achieved in the first China-UK Economic and Financial Dialogue held in mid-April in Beijing, expecting bilateral trade to grow from the current $4.5 billion to $6 billion by 2010, China Daily reported Saturday.

The LSE currently has 74 Chinese companies listed from about 20 sectors and by 2010 there would be around 100 listed Chinese companies on the Europe's largest liquidity pool. The LSE said 17 Chinese companies joined the exchange last year, raking in $1.9 billion.

"The LSE provides access to a different liquidity pool and a different investor base featuring institutional investors with long-term approaches," said Lewis, adding that as Chinese companies internationalize, they will want access to the euro zone that the LSE can offer.

As one of the most international equities exchanges, the LSE has more than 700 global companies from more than 70 countries quoted on its markets.