The New York Stock Exchange has become the first overseas exchange to be given the go-ahead by Chinese regulators to open an office in Beijing. Financial Times

The China Securities Regulatory Commission has approved an application by New York Stock Exchange, a subsidiary of NYSE Euronext, to open the office.

Winning new listings from China and India is seen as crucial to success in the global equity and derivatives exchange business and the new office will give the NYSE an advantage.

Many companies from the east have shied away from US listings because of concerns over stringent regulatory and reporting requirements under Sarbanes Oxley legislation.