The China Securities Regulatory Commission (CSRC) yesterday said it approved the New York Stock Exchange Group (NYSE), the world's largest bourse, to set up a representative office in the country.

The NYSE thus became the first foreign stock exchange to get the government's go-ahead to establish such a presence.

The move is seen as fulfillment of one of China's commitments in the first round of the Sino-US Strategic Economic Dialog held in December, when China promised to allow foreign exchanges to set up offices in the country soon.