GUANGZHOU is pushing ahead with plans for a securities trading centre despite concern about its feasibility and an overlap of resources with the existing trading centre. The chairman of parent company Guangzhou United Exchange, Xu Zhi, said preparatory work was under way for the trading centre, which would open soon. No timetable was given. Guangzhou United is led by the city planning commission and securities regulatory bodies. City mayor Li Ziliu earlier revealed plans to build the securities trading centre into a regional stock exchange that could complement the Shenzhen stock exchange. The planned securities trading centre could probably merge with Nanfang Securities Exchange, which was set up a year ago, he said yesterday, without elaborating. A Nanfang official said he had not heard of any moves so far but did not rule out such a possibility. 'It will be an overlap of resources for a city to have two securities trading centres,' he said.