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STOXX surfaces with Chinese name, Shi Tuo, to expand footprint in country
STOXX Limited unveiled a local version of its name yesterday to boost its brand visibility in China, as part of the Zurich-based index provider's strategy to further expand its footprint in its top priority market.
The Chinese name Shi Tuo, which means momentum and innovation, will be used across the country to represent STOXX's brand and index concepts.
"The launch of the Chinese version of our name reflects our commitment to the Chinese market and our growing presence in it," said Hartmut Graf, chief executive officer of STOXX.
Graf said the company has made business expansion in China its top priority.
“As China's economy continues to grow at a robust pace and the authorities gradually open up the capital market, the country's stock market is likely to become the world's biggest one in ten years with market capitalization hitting US$30 trillion," Graf said, citing sources.
In February of 2013, STOXX licensed the EURO STOXX 50 Index to China Universal for an exchange-traded fund, and in July 2013 a license for the STOXX Europe 50 Index was given to ICBC Credit Suisse.
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