Chengxin Credit: the Right Time to Enter Chinese Market
Shi Zhicheng, CEO of Chengxin Credit Management Co., which is planning the first issue of credit foundation, told reporters that it was the right time to involve in Chinese market.
Established in the end of September, Chengxin Credit Management Co. is a Sino-foreign joint-venture credit management company invested by CITIC, the British Prudential Group, and SIP Venture Investment Co., Ltd. Currently, the 49 credit companies in China are faced with fierce competition with clear trend of polarization. It is debatable if the entry of foreign capital came a little late. In the opinion of Shi Zhicheng, however, the credit market in China is in the stage of initial growth, and there is great prospect for future development. The reason for his confidence in Chinese market is that the Chinese citizens have large sums of savings against limited investment tools available at the market. Shi holds that the undergoing stock restructuring in China will bring about new opportunities for credit management, and the estimated value of Chinese capital market appears very attractive. The first credit issue of Chengxin is under active preparation.
Dec. 7, 2005