BEIJING, July 25 (Xinhua) - Chinese news website Xinhuanet.com and American education company New York Institute of Finance (NYIF) have agreed to work together to develop online financial training courses.

The two signed an agreement on Thursday to build a training system for China's financial industry professionals, with the goal of establishing an influential brand within this burgeoning sector in three years.

The news is believed to be a boost for Xinhuanet as it plans a listing on the Shanghai Stock Exchange.

Xinhuanet CEO Tian Shubin said that the company will aim to launch a diverse range of online training services, capitalizing on the two sides' advantages in branding, credibility, users and resources.

Xinhuanet will be the second government-sponsored news website to go public in China after the People's Daily Online. It announced its IPO plan on June 27, saying it would list on the Shanghai Stock Exchange with an aim of raising about 1.5 billion yuan (240 million U.S. dollars) by issuing 51.9 million shares.

Xinhuanet made 168 million yuan in net profit and 456 million yuan in revenues last year. Endi

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