Shanghai, 2nd July: Xinhua Finance Ltd. (XFL) has announced a strategic alliance with Avox, the business entity data specialist which is 75% owned by the Deutsche Boerse. The partnership will provide “worldwide business entity data to financial institutions in mainland China and Taiwan” and “will allow users in the region to utilize fully verified and timely international business entity data, and in particular meet the increasing demand for reliable data services from China’s qualified domestic institutional investors (QDIIs) who are investing overseas”, the companies say in their announcement.
“Business entity data has long been an overlooked area without authoritative sources or generally accepted global standards”, said Dr. Chen Chunghsing, Head of Ratings and Research, Xinhua Finance. “Chinese firms who have gained their QDII ‘Foreign Trading’ license are facing an increasing challenge to access trustworthy international business entity data. We believe that these Chinese QDII clients will be able to make their investment, trading, partnership, and compliance judgments with more confidence than ever, by leveraging Avox’s collaborative industry utility.”
Source: Xinhua Finance press release*
BIIA Newsletter July / August 2008 Issue