Peking University, Beijing, Nov 16, 2009: On the evening of Nov 3, Mr. Duncan L. Niederauer, Chief Executive Officer and Director of NYSE Euronext (NYX), invited by the Guanghua School of Management, delivered a speech on China's capital market and the world.

Mr. Niederauer was amazed by the economic performance in China, especially against the background of the ongoing global financial crisis - the government's effective responses, the unexpected performances of enterprises, and the rising of consumption index, all of which combined created the first sign of recovery across the world.

Speaking of the listed Chinese enterprises in NYSE, according to Mr. Niederauer, "there are 120 companies listed in NYSE are from Asian areas, among which about 75 are from China." Currently Chinese listed companies in NYSE hves accounted for more than 60% of all the listed companies from Asia, and the ratio is expected to continue to rise.  "NYSE and I myself both strongly believe in the grand and thorough transformation occurring in China."

Since Mr. Niederauer took office as the CEO of NYSE in December 2007, he has become a regular visitor to China. As the largest stock exchange in the world, NYSE has been working closely with Chinese companies and government and thanks to the efforts of Mr. Niederauer, the cooperation has been promoted to a new level. As one of the members of Shanghai Council of International Financial Advisers, he is contributing to developing Shanghai into an international financial center. Besides, NYSE also played a role in the promotion of Growth Enterprise Market (GEM) of Shenzhen Stock Exchange. Mr. Niederauer said that the cooperation with China's capital market would be one of the focuses of NYSE in the future.

During his four-day trip to China, he has visited Hong Kong, Shenzhen, Shanghai and finally Beijing, all of which are the most active centers of China's capital market.  Therefore, he offered advice on the internationalization, modernization and diversification of China's capital market.  He said that it is a great opportunity for Shanghai to internationalize its market, which will attract more prestigious companies. The more healthy participants are in a market, the more mature the market will become.

But Mr. Niederauer appeared to be more conservative on the financial derivative products. He stressed that if China wants to produce derivative products, it needs to "adjust the corresponding market structure."

When mentioning the GEM promoted by the Shenzhen Stock Exchange in October, he pointed out that it is still too early to say whether it is a success or not, but it did make it easier for small and middle-sized enterprises to enter the capital market, which was essential for the economic recovery and growth. 

At last, he shared his life stories with the audience and encouraged the students to try new things. "Life is like a journey. You never know what the next stop is like. You should not be afraid of take risks in your youth, because every risk is an opportunity for you to learn and experience new things."

Translated by: LIN Jingxian
Edited by: Seren
Source: PKU News (Chinese)