NA City Chinese enterprises market value of nearly 30 billion U.S. dollars

An interview with Nasdaq president and chief executive Robert Grefeld acquisition of the exchange will be a war of attrition at the end of last year, Grefeld a speech at Tsinghua University, when talking about the feeling of a marathon race to the last mile, he said: "All you have to do is be crazier than you think." "Grefeld recently said that, just as the competition with other exchanges in the world is continuing, the acquisition of the Robert Grefeld will also start to consume War April 3, 2007 Night 9:30, Nasdaq president and chief Executive Officer Robert Greifeld　　The opening bell button was pressed at the Grand Ballroom of Beijing Oriental Grand Hyatt Hotel.　　Nasdaq became the first American Stock exchange to hold a opening ceremony in China. The next day, Nasdaq announced in Beijing that the exchange will launch the Chinese index, which will start tracking the performance of Chinese listed companies in the US in the second quarter of this year.　　In Grefeld's view, this would mean that investors in the US and other countries would be more likely to weigh the value of Chinese companies ' shares on Nasdaq. Last year, 2 of the top 10 IPO companies in the Nasdaq were Chinese companies, including home Inns that were rated as "2006 IPOs" by the US Capital Renaissance Corporation. In the first quarter of 2007, 6 Chinese companies were listed successfully on Nasdaq.　　Grefeld these achievements as a result of the joint efforts of NASDAQ and China's high-quality companies.　　It is widely felt that the ambitious Nasdaq boss will not be satisfied with the current results, the seizure of Chinese companies overseas listing will be more intense competition, and to build America's best exchange is the marathon athlete's relentless pursuit.　　The Nasdaq China Index, the "New China market Strategy", will be the first Chinese stock index in the history of the U.S. stock Exchange, which will be comprised of 30 Chinese companies listed on Nasdaq, NYSE and the U.S. stock Exchange, with a total market capitalisation of more than $600 billion trillion. "We did do a lot of research before we published the index, and the survey showed that a lot of investors are very interested in doing derivatives based on such an index and developing some investment tools."　　Grefeld told the first financial daily.　　Shortly after he took office, Grefeld the Nasdaq globalisation process. While the Chinese index was released, Nasdaq also announced the formal appointment of Guangxun as China's chief representative to replace the Lawrence Pan, which was seen as Grefeld's strategic adjustment to the Chinese market. Guangxun was the managing director of Nasdaq Asia between 1994 and 2004.　　Returning to his old club, he will be responsible for developing relationships with potential Nasdaq-listed companies while maintaining relationships with existing listed companies in the country. Industry insiders believe that Grefeld's layout of the new chief Representative is taking into account the Nasdaq brand in China, Government PR and client development, on the one hand, want the government to encourage more growth companies to go to Nasdaq, on the other hand, to bring more diversified Chinese companies to the Nasdaq rather than just the high-tech IT companies, which will be in the future substantive implementation. Some have described Nasdaq's strategy in China as almost insane.　　Grefeld said he firmly believes that the strength of China's domestic market is very helpful to them, which means that Nasdaq has a very good partner in international business development. "I very much encourage the Shanghai and Shenzhen two domestic stock market development, in fact, we and two domestic exchanges have signed a memorandum of understanding, and we are very enthusiastic and actively hope that with the SSE, Shenzhen Mutual learning, we hope to be able to share knowledge with them."　　"he told reporters. The rapid development of China's economy attracted the attention of many exchanges around the world. The European exchange has set up a special working group to open up the Chinese market, and the New York exchange has stepped up its efforts to attract high-quality private companies to China. At the same time, Asian exchanges frequently attended various financial forums in China last year and made various referrals to Chinese companies.　　The huge challenges facing Nasdaq are inevitable.　　The task of Nasdaq was even more daunting last year, when two Chinese companies, including Suntech and New Oriental, were taken away by the New York Stock Exchange, where the NYSE acquired strength after buying Euronext. "First of all, I would like to stress the essence of the Nasdaq work, is to let us such a service system, for the listed companies, for investors is a most effective system." Of course, we do notice that we are in a tense competition with the NYSE. What kind of strategy do we take? is to go head-to-head with the NYSE on a plate-by-piece basis.　　Grefeld told the reporter with a smile. "Although some companies have opted for NYSE listings, they have 35% of their stock traded in the Nasdaq market."　　The boss said in front of reporters. Just this week, the French financial Markets Authority confirmed that the NYSE had won 91.42% per cent of Euronext's shares and 92.2% of the vote, meaning that the "NYSE-Euronext company" was officially born and would become the world's largest financial trading platform. It will connect the six major financial markets of New York, Paris, Brussels, Amsterdam, Lisbon and London, with a market capitalisation of $29 billion trillion.　　Shares in the new stock Exchange will be listed on April 4 in New York and Paris. In the face of such a situation, Grefeld know that only to mergers and acquisitions of other exchanges to restructure, can face the challenge and form a large-scale operation.　　Last December, Nasdaq announced a "hostile takeover" of 5.3 billion dollars to the London Stock Exchange, but was repeatedly rejected. Grefeld recently said that, just as the competition with other exchanges in the world is continuing, the acquisition of the company will also start a war of attrition, it will not sell the 28.75% per cent of the shares it holds for at least 18 months. Since taking office in 2003, the competition between Grefeld and NYSE has been in the process of technological innovation, merger and acquisition.　　To the outside world, for a runner who has completed four marathon marathons, there is no fear of any tug of war. "Crazier than imagined," at the end of last year, Grefeld, who has been visiting China for the first time as Nasdaq president, said in a speech at Tsinghua University about how he felt as a marathon athlete for the last mile, saying: "All you have to do is be crazier than you think." "Also last year, Nasdaq divided its listed companies into three sectors: The world's selected markets, global markets and global capital markets." Among them, the global Select Market is the highest listing requirements.　　Critics say Grefeld's ambition is to recruit the world's best companies to Nasdaq. "Nasdaq's Global Select market offers the most stringent listing requirements for listed companies in all stock trading markets." If they can be listed on the NASDAQ Global Select market, it means they are among the best quality companies in the world.　　He told our correspondent. In the late 90, the Nasdaq market traded far more volumes and listed companies than the New York exchange, but with the dotcom bust in early 21st century, the Nasdaq index plunged thousands of points in 2003 and investors left, while October 2003, Nasdaq withdrew from the Japanese market and closed the European market a year later.　　Nasdaq has officially abandoned its global expansion plan for more than 3 years. Grefeld, however, began to run Nasdaq's reins, which he positioned as one of the best exchanges in the United States.　　It is expected that the Grefeld, which has brought new vigor to Nasdaq, will be able to create greater achievements in the years ahead. The first financial daily: there is speculation that the Nasdaq's replacement for China's chief representative is due to Lawrence Pan's goal of not meeting the diversification of the Nasdaq-listed Chinese companies in the implementation of the Nasdaq strategy, and now compared with the NYSE　　What is Nasdaq's future strategy for the Chinese market? Grefeld: In fact, there are already 40 Chinese companies listed on Nasdaq, and these 40 companies are very high-quality companies. It can be said that they are also truly innovative companies. The company's total market capitalisation is now close to $30 billion trillion. This is also a process of self selection.　　The Nasdaq-listed Chinese companies have large companies and small companies that are willing to come to the Nasdaq market, to be judged by more stringent listing standards and to meet Sarbanes-Oxley requirements. We also have a very solid foundation in the Chinese market, lay such a solid foundation, Lawrence Pan did make his contribution. First quarter of 2007There are already 6 Chinese companies listed on the Nasdaq, which represents the basis for China's further development.　　2006 listed the best performance of the company, is like a hotel chain.　　"First Financial daily": there is news that the Sarbanes-Oxley amendment will begin this year, you have heard the news, and how do you see the impact of the bill on Chinese companies? Grefeld: The revision of the Sarbanes-Oxley Act should start this year. My personal view is that most of the Sarbanes-Oxley regulations are very beneficial to investors in a more transparent way to see their investment in the company, and can increase the confidence of investors. However, I would also like to point out that after the enactment of any statutory ordinance, it is necessary to continuously improve and adjust it.　　So is the Sarbanes-Oxley Act. Lawmakers and government regulators in the US do have to revise the Sarbanes-Oxley Act to make it easier for Chinese companies and other companies to come to the U.S. stock market.　　And Nasdaq is also very fortunate that the newly appointed vice-chairman, Michael Oxley, is one of the authors of the Sarbanes-Oxley Act, and he himself supports such a view. "First Financial daily": You have always stressed that the Nasdaq market is the first choice for innovative companies to go public.　　How do you push the market to innovate in innovation and make it more suitable for innovative companies? Grefeld: The Nasdaq market can operate effectively, shortening the investment return cycle for investors and reducing costs for them. For any stock market, the most stressful hours are open and closed. And through our Nasdaq-specific open and closed trading processes, investors can look at the overall stock market situation, thus greatly reducing their transaction costs. It can be said that in all of the world's stock exchange market, Nasdaq in the opening and closing of the operating efficiency is the highest.