The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Avox Signs Partnership with Xinhua Finance to Extend Business into China

Share article

Business entity data specialist Avox has signed a partnership agreement with financial information and media service provider Xinhua Finance to extend its reach into the Chinese market.

The agreement represents the first level of partnership with Xinhua Finance and involves an arrangement for the Chinese firm to distribute international business entity data to the local market.

Avox is in discussions with Xinhua Finance, which is headquartered in Shanghai, about further levels of partnership in the future, says CEO of Avox Ken Price. “China is taking the issue of data very seriously and there is a focus on getting the infrastructure right the first time around. The country is in a position to learn from mistakes made in other financial centres in the world and leapfrog unnecessary stages of development,” he explains.

A big driver for Chinese business and this focus on infrastructure and data is the development of the Qualified Domestic Institutional Investor (QDII) regime, Price adds. QDII allows investors to invest in foreign securities markets via certain fund management institutions, insurance companies, securities companies and other asset management institutions that have been approved by China Securities Regulatory Commission (CSRC).

The two firms are also setting up a research institute to focus on data content and Price believes the interest in this sort of research is proof positive that China is on the right track when it comes to data management.

A user group has been established to provide feedback to both firms, Price continues. Everbright Securities is part of this user group and is seriously talking about a future business relationship with Avox and Xinhua Finance.

Price describes Xinhua Finance as a “young and entrepreneurial” company and a perfect fit for Avox’s needs. “We see China as a great business opportunity for the future as it represents a significant growth market for financial services.”

The next six months will involve a focus on sales and marketing efforts, says Price.

Related content

WEBINAR

Recorded Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions can enhance their client onboarding experience, streamline their internal operations, and open the door to new,...

BLOG

A-Team Group Names Winners of Data Management Insight Awards 2020

A-Team Group has announced the winners of its prestigious Data Management Insight Awards 2020. The annual awards, now in their eighth year, recognise leading providers of data management solutions, services and consultancy to capital markets participants. The award winners were announced online across categories ranging from best sell-side and buy-side data management platforms to best...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual will bring together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Join us online to hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...