Nasdaq-NYSE Rivalry Comes to China

The two American exchanges are opening offices in Beijing as Asian markets give them some tough competition for Chinese stock listings

Not so long ago, listing their shares on Nasdaq was a no-brainer for Chinese tech companies looking to tap overseas money. The 52 mainland companies currently trading on Nasdaq include Internet portals such as Sohu (SOHU), Netease (NTES), and Sina (SINA), which listed their shares in 2000. More recently, Chinese highfliers, including search engine Baidu (BIDU) and Focus Media (FMCN), both of which had Nasdaq initial public offerings in 2005, have made spectacular gains.

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