Chinese Financial Institutions to Support Service Outsourcing Industry
China News, 9/10/09
Six Chinese ministries including the People's Bank of China and Ministry of Commerce have issued a joint letter requiring financial institutions to provide credit, financing and foreign exchange support to the service outsourcing industry. The mandate will allow service outsourcing firms to enjoy favorable policies for loan innovation, domestic and foreign public listings, and simplified auditing for foreign exchange income and expenditures.
At the 13th China International Fair for Investment and Trade currently in session in Xiamen, China's Ministry of Commerce signed a "Cooperative Memorandum to Promote Development of China's Service Outsourcing Industry" with 22 multinational companies including Sony and Pepsi, to encourage multinationals to bring their service outsourcing businesses to China. At present, approximately 100 multinational companies have established service outsourcing relations in China.
Keywords: financing foreign exchange investment software Ministry of Commerce service outsourcing People's Bank of China
Sending
