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China's stock market has great growth potential as small companiesseek to raise funds, providing more opportunities for foreignexchanges to cooperate with local ones, Duncan Niederauer, CEO anddirector of NYSE Euronext, said on Tuesday. "In the next decade, more than 5,000 Chinese companies are likelyto go public, creating more job opportunities and boosting economicgrowth," said Niederauer. Several companies from the Chinese mainland are waiting to launchIPOs in the US market, he said. Current conditions in US capital markets are "sound", although thenumber of Chinese companies that go public in the US is unlikely toapproach the level of two years ago, he added. In 2010, 22 Chinese companies went public on the NYSE Euronext'sexchanges. Last year, however, only seven went public on theexchanges, raising a total of $1.49 billion. There are 104 Chinese companies listed on the NYSE Euronext'sexchanges: 81 companies on the NYSE, 20 on the Amex and three onAlternext. Most of those are small and medium-sized innovativeprivate companies. The Vipshop, an online seller of luxury goods, was the firstChinese IPO on the NYSE this year, raising $71.5 million in grossproceeds. Gao Ting, chief China strategist with UBS Securities Co Ltd, saidthat as the European debt crisis might recede somewhat in the thirdquarter and China's economy might pick up in the second quarter,more Chinese companies might hold IPOs overseas in the second half. "We should realize the importance of the Chinese market, as in thenext 20 years capital is expected to freely flow into and out ofthe country", while the Chinese currency will play a moresignificant role in the global financial system, he said. Niederauer predicted that Shanghai may become one of the top threeglobal financial centers in 10 years, with London and New York, asChina's economy is still on a fast-growth track. The New York-based group of exchanges is willing to cooperate withstock exchanges in Shanghai, Shenzhen and Hong Kong to help moreChinese companies raise funds in the primary market. The company and the China Financial Futures Exchange signed amemorandum of understanding on May 16 to promote a bilateralpartnership to support the development of the exchanges' futuresand options markets. It also reached agreements with other Chinese exchanges, includingthe Dalian Commodity Exchange and Zhengzhou Commodity Exchange, toexplore opportunities for information sharing, exchanging andtraining, as well as researching strategies for the derivativesmarket. NYSE Euronext manages seven equities exchanges and sevenderivatives exchanges in six countries. At the end of April, the total market capitalization of NYSEEuronext-listed companies reached $23.5 trillion. The e-commerce company in China offers quality products such as China christie projector lamp , China sanyo projector lamp, and more. For more , please visit panasonic projector lamp today!
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