Sept. 4 (Bloomberg) -- NYSE Euronext, owner of the world's largest stock exchange, said it gained approval from Chinese regulators to open the first office by a foreign market in that country.

NYSE Euronext plans to use the office in Beijing to lure listings in China, where the economy has expanded at an annual pace of more than 10 percent for the past six quarters. Through offices elsewhere in Asia, the New York Stock Exchange courted the listing of eight Chinese initial public offerings this year.

``We look forward to further strengthening our relationship with the People's Republic of China and to offering the opportunities of our marketplace,'' NYSE Euronext Chief Executive Officer John Thain said in a statement today. The approval ``reflects positively on the progress of the strategic economic dialogue between China and the United States.''

Regulations that took effect in July allowed foreign exchanges to set up representative offices in China. Under the rules, executives from the exchanges aren't allowed to use the offices for ``operational activities,'' though they may promote their markets and conduct research.

Nasdaq Stock Market Inc., London Stock Exchange Plc and Deutsche Boerse AG also are preparing to set up representative offices, executives from the markets said at a May conference in Beijing.

NYSE Euronext rose $1.09, or 1.5 percent, to $73.84 at 4:01 p.m. in New York composite trading. The stock has declined 24 percent this year.

To contact the reporter on this story: Edgar Ortega in New York at ebarrales@bloomberg.net.

Last Updated: September 4, 2007 16:04 EDT