British Prime Minister Gordon Brown cuts a ribbon for the opening of a representative office of the London Stock Exchange in Beijing Friday, Jan. 18, 2008.  The LSE has stepped up competition with American-based markets to attract listings from the growing number of Chinese companies that are expanding abroad. (Photo: Shanghai Daily)
Photo Gallery>>>

    BEIJING, Jan. 18 (Xinhua) -- The London Stock Exchange (LSE) opened a representative office here on Friday with the goal of attracting listings of rapidly growing Chinese companies.

    Two U.S. rivals -- the New York Stock Exchange (NYSE) and NASDAQ -- opened Beijing offices in December.

    The LSE is the gateway for Chinese companies wanting to get into the euro zone and the market is cost-effective, said Clara Furse, the LSE's chief executive officer.

    Strict listing requirements would help Chinese companies improve their corporate governance and management, Furse added.

    Chinese companies could seek partners in Europe and other regions of the world through the LSE, said Jiang Nan, representative of the LSE's Beijing office.

    Seventeen Chinese companies raised 1.9 billion U.S. dollars through London listings last year. To date, 68 Chinese firms in 20 sectors, including manufacturing, services, and clean technology, have listed on the bourse.

    "The LSE does not focus on any special sector. We have an open mind," said Furse. She added that several Chinese companies were preparing for LSE listings.

    The LSE applied to the China Securities Regulatory Commission for the establishment of the office late last year and gained approval early this month.

    Stock exchanges in Japan, Singapore and the Republic of Korea have also gained regulatory approval to open China offices.

    The Singapore Stock Exchange has said it would open its Beijing office early this year.

China, UK aim for $60 bln of bilateral trade by 2010

Chinese Premier Wen Jiabao (R) shakes hands with visiting British Prime Minister Gordon Brown in Beijing, China, Jan. 18, 2008,during a ceremony in honor of Gordon Brown. (Xinhua Photo)
Photo Gallery>>>

    BEIJING, Jan. 18 (Xinhua) -- China and the United Kingdom (UK) had agreed to target 60 billion U.S. dollars worth of annual bilateral trade by 2010, British Prime Minister Gordon Brown said here on Friday.

    The target was set by Chinese Premier Wen Jiabao and the visiting British leader, who arrived here early on Friday for an official visit. 

Chinese Premier Wen Jiabao (L) hosts a welcoming ceremony for visiting British Prime Minister Gordon Brown in Beijing, China, Jan. 18, 2008.  (Xinhua Photo)