Beijing, 25 June 2009 – HUAXIA International Credit Group and CRIF today announced the establishment of a new joint company in the Chinese domestic market, Huaxia CRIF China, which provides advanced consumer credit information services and credit risk management solutions.

In particular, Huaxia CRIF China’s offering covers consumer credit risk consultancy and relevant technology services, business and information consultancy.

“We are very satisfied with this strategic alliance” – said Carlo Gherardi, CRIF Chief Executive Officer and Professor Xiaoning Cao, HUAXIA Credit Chief Executive Officer – “We are confident that the synergy between CRIF and HUAXIA’s expertise will enable the new company to be a leading provider in China in the fields of consumer information services and credit management solutions. Huaxia CRIF China’s clients will benefit from an advanced and complete range of solutions based on cutting-edge technology”.

“The consumer credit market in China” – added Carlo Gherardi – “offers great and challenging opportunities. This partnership with an important group such as Huaxia is a significant step in CRIF’s international development strategy, guided by a “glocal”, global and local, vision. Huaxia CRIF China relies on CRIF’s in-depth experience, skills and IT technology. In addition, the new company’s local presence in this constantly growing market will enable us to improve our knowledge and expertise in order to better meet clients’ increasingly demanding business needs”.

“CRIF and HUAXIA Credit have had a business relationship for 10 years, and our mutual cooperation and respect are fundamental for the future business development of HUAXIA CRIF China. The similar company structures of both CRIF and HUAXIA Credit will assist in prompt decision making when facing our future challenge together”, stated Prof. Xiaoning Cao.

Source:  Joint Press Release for further details go to:

BIIA Comment:  CRIF has recently joined the D&B worldwide network and acquired D&B Italy (see BIIA Newsletter June Issue Page 7).  HUAXIA International Credit Group has a joint venture with D&B in China:  Huaxia D&B

BIIA Newsletter July – August 2009 Issue