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 Bidding to raise the LSE's profile, CEO Alexander Justham noted
the exchange currently has about 60 Chinese companies listed, with a
combined market capitalization of around 17.2 billion pounds($27.86
billion).
"Clearly that is just, in China context, relatively small. We
absolutely understand that," Justham told Reuters. "These are very
early days."
London is battling against other financial centers that have clear
specializations.
The U.S. markets, for example, have successfully attracted big state
enterprises and China's leading technology firms.
Nasdaq Stock Market, New York Stock Exchange and the American Stock
Exchange (AMEX) collectively have 116 Chinese listings worth a total
market cap of roughly $640 billion, according to figures compiled by
Nasdaq.
Mainland companies on the Hong Kong Stock Exchange have a market cap
of HK$4.7 trillion($606 billion). Language, shared culture and
proximity, are Hong Kong's main draws, while London still had to
carve out a special attraction, commented Zhu Baocheng, financial
controller at Beijing Energy Investment holding Co., Ltd, whose firm
is considering listing one of its subsidiaries overseas.
However, Zhu did say one selling point for the London Stock Exchange
was its AIM market, which is less restrictive for smaller firms.
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For other Chinese executives attending the conference, the London
bourse was virtually unknown.
Luan Xuefeng, head of the financial department at major peanut oil
producer Shandong Luhua Group, said he'd never heard of the London
Stock Exchange before the event but was familiar with the New York
exchanges. The firm, which has 12 billion yuan ($1.96 billion) in
annual revenue, began considering an IPO last year.
(Reporting By Jake Spring; Editing by Simon Cameron-Moore)
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