Feb.14 - China's central bank officials have played down th

时间：2007-02-14 06:28:58

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Feb.14 - India's biggest IT company, Tata Consultancy Services (TCS), officially launched a joint1 venture in Beijing yesterday and announced a contract with China's Foreign Exchange Trade System (CFETS), a part of the central banking2 system.

 

The joint venture in Beijing's Zhongguancun Software Park will provide IT services to China's domestic market, as well as Europe, the United States, Japan and the rest of Asia, the company's CEO said.

 

"The joint venture will help create a large-scale offshore3 base and increase the scale of our business here," said S. Ramadorai, TCS's managing director and CEO, at a press conference in Beijing.

 

The first Indian outsourcing company to operate in China, TCS now has 800 consultants4 at its centers in Shanghai and Hangzhou. With the new venture in Beijing, the company expects to increase its work force to at least 5,000 over five years.

 

"China's domestic market offers great opportunity for us, especially the recently relaxed banking sector5," said Johnson Lam, CEO of the joint venture, noting that 43 percent of TCS total revenue comes from the financial sector.

 

TCS said it will implement6 a comprehensive trading system for CFETS, the official market for interbank trading and foreign exchange. The company declined to reveal the value of the contract.

 

TCS and International Business Machines Corp said on February 8 that they won a $100 million deal to upgrade the computer systems at Bank of China Ltd.

 

China's banking sector has become an important new client for global IT consultancies as lenders invest heavily in technology to improve risk management and tighten7 control over branches. Domestic banks are also facing increasing competition from overseas counterparts such as HSBC Holdings Plc and Citigroup Inc.

 

TCS and its Chinese partners announced the joint venture in late 2005 and later Microsoft said it would be a strategic investor8 in the company.

 

TCS Asia-Pacific owns 65 percent of the venture. Beijing Zhongguancun Software Park Development Co Ltd, Tianjin Huayuan Software Area Construction and Development Co Ltd and Uniware Co Ltd each hold 25 percent, with Microsoft expected to take the remaining 10 percent.

 

Indian software giants have been bulking up their operations in the country in recent years to meet a shortage of technical staff. As multinational9 companies continue to flock to China, the demand for IT expertise10 provides a new revenue source for Indian software giants.

 

Satyam Computer Services, India's fourth-largest software exporter, said it plans to increase its presence in China to more than 3,000 professionals by 2008.

 

Infosys said earlier it will invest $65 million in China by 2010 and increase its staff numbers in the nation to 6,000.

 
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1 joint m3lx4     
adj.联合的，共同的；n.关节，接合处；v.连接，贴合
参考例句：
  • I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
  • We wrote a letter in joint names.我们联名写了封信。
2 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
3 offshore FIux8     
adj.海面的，吹向海面的；adv.向海面
参考例句：
  • A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
  • A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。
4 consultants c6fbb5ca6219111731f9c4c4d2675810     
顾问( consultant的名词复数 )； 高级顾问医生，会诊医生
参考例句：
  • a firm of management consultants 管理咨询公司
  • There're many consultants in hospital. 医院里有很多会诊医生。
5 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
6 implement WcdzG     
n.(pl.)工具，器具；vt.实行，实施，执行
参考例句：
  • Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
  • The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。
7 tighten 9oYwI     
v.(使)变紧；(使)绷紧
参考例句：
  • Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
  • Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。
8 investor aq4zNm     
n.投资者，投资人
参考例句：
  • My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
  • The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。
9 multinational FnrzdL     
adj.多国的，多种国籍的；n.多国籍公司，跨国公司
参考例句：
  • The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
  • He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。
10 expertise fmTx0     
n.专门知识(或技能等)，专长
参考例句：
  • We were amazed at his expertise on the ski slopes.他斜坡滑雪的技能使我们赞叹不已。
  • You really have the technical expertise in a new breakthrough.让你真正在专业技术上有一个全新的突破。

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