Beijing -- [The Wall Street Journal] -- Chinese firms are likely to be the largest group of foreign companies listed on Nasdaq by the end of next year, and these will be "innovative growth companies" with solid corporate governance, said Michael Oxley, vice chairman of Nasdaq Stock Market.

In an interview, Oxley criticized London's Alternative Investment Market -- an exchange that has drawn small and midsize firms that don't qualify for a listing on more established exchanges -- for its regulatory standards.