Wang Kaiguo and Chinese Companies

Chinese investors: The companies will also look at opportunities for co-operating on new index and derivatives products, according to Euro News. There are currently 57 Chinese companies listed in London, of which only eight are on the main market. Under the memorandum of understanding, the two groups will embark on a range of moves, including helping Chinese investors access the LSE capital markets, and developing renminbi exchange traded funds tracking Chinese securities. As China capital markets gradually open up, an increasing number of Chinese enterprises are seeking overseas development, said Wang Kaiguo, chairman of Haitong Securities. Haitong is China second largest brokerage by assets, behind CITIC Securities, and is among the country top underwriters for initial public offerings . The securities firm last month raised $4.2 billion from a group of seven investors to increase its margin finance and other lending business. Earlier this week top bourse officials said that China offered better growth prospects for stock and derivatives exchanges as making money in mature western markets becomes tougher due to overcapacity. (news.financializer.com). As reported in the news.