US, China agree to allow Nasdaq and NYSE to open offices in China

China and the US agreed to allow the Nasdaq market and New York Stock Exchange open formal business offices in China, Chinese Finance Minister Jin Renqing announced Friday at the end of two days of high-level talks with US officials.

Jin did not give a timetable for opening the offices or any other details. Dozens of Chinese companies have listed shares on Nasdaq and the New York Stock Exchange, and both are eager for business as China's economy booms. (AP)