MEDIA ADVISORY, Oct. 23, 2006 (PRIMEZONE) --
What: The NASDAQ Stock Market LLC (NASDAQ) and the Shanghai Stock Exchange (SSE) will hold a press briefing on Monday October 23rd, 2006 to announce the signing of a Memorandum of Understanding. NASDAQ and the SSE have established a formal understanding to develop channels of communication and forge an ongoing relationship and exchange of information between the two markets. This will be for the benefit of the U.S. and the People's Republic of China. NASDAQ currently lists 29 Chinese companies with a combined global market cap of US$20.1 billion. The five companies listed on NASDAQ from the Shanghai region are FMCN: Focus Media CTRP: Ctrip.com International Ltd. SNDA: Shanda Interactive Entertainment Ltd. NCTY: The9 Ltd. LTON: Linktone Ltd. Who: Mr. James Liu, Executive Vice President Mr. Kejian Chao, Deputy Director Global Business Development Adena Friedman, Executive Vice President of NASDAQ's Corporate Strategy When: Monday October 23, 2006 3:00 p.m. E.T Where: The NASDAQ Stock Market One Liberty Plaza New York, NY 10006 50th Floor Board Room RSVP: If you wish to attend the Press Briefing at NASDAQ please RSVP by contacting Stephanie Lowenthal at stephanie.lowenthal@nasdaq.com or 646.441.5220
About the Shanghai Stock Exchange (SSE)
The Shanghai Stock Exchange (SSE) was founded on Nov. 26th,1990 and in operation on Dec.19th the same year. It is a non-profit-making membership institution directly governed by the China Securities Regulatory Commission (CSRC). The SSE bases its development on the principle of "legislation, supervision, self-regulation and standardization" to create a transparent, open, safe and efficient marketplace. The SSE endeavors to realize a variety of functions: providing marketplace and facilities for the securities trading; formulating business rules; accepting and arranging listings; organizing and monitoring securities trading; regulating members and listed companies; managing and disseminating market information.
After several years' operation, the SSE has become the most preeminent stock market in Mainland China in terms of number of listed companies, number of shares listed, total market value, tradable market value, securities turnover in value, stock turnover in value and the T-bond turnover in value. December 2004 ended with over 37.87 million investors and 837 listed companies. The total market capitalization of SSE hit RMB 2.6 trillion. In 2004, Capital raised from SSE market surpassed RMB 45.7 billion. A large number of companies from key industries, infrastructure and high-tech sectors have not only raised capital, but also improved their operation mechanism through listing on Shanghai stock market.
About NASDAQ
NASDAQ(r) is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.