Prime Minister Gordon Brown helped lift shares in the London Stock Exchange this morning while on a visit to China. Mr. Brown said he wanted to see the number of Chinese companies listed on the LSE double in the next five years from the 68 listed presently.
The LSE recently opened an office in Beijing to promote overseas listings, but the Chinese government enacted a new rule in 2007 which requires all companies to seek permission from the government before doing so. The LSE is keen to maintain its position as the top destination for international companies seeking an overseas listing.
Shares in the LSE rose 6.5%.