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TCS joint venture in China opened

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CIOL Bureau
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BEIJING: Tata Consultancy Services (TCS) and its Chinese partners, supported by the National Development and Reforms Commission (NDRC), today inaugurated the TCS (China) at its new premises at the Z-Park here.

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TCS also announced that it has won a multi-million dollar contract to implement a comprehensive international trading system for China Foreign Exchange Trade System (CFETS), which is a sub-institution of the People's Bank of China.

TCS China is only one of its kinds JV in China and is being supported by NDRC and it signifies growing Sino- India Cooperation in Technology, as enunciated by the president Hu Jintao, TCS said in a statement.

"TCS has successfully completed five years in China and the new JV is the next step in our long journey in China," said S Ramadorai, CEO and MD of TCS. "The JV will help to create a large scale global offshoring base in China and domestic business of increasing scale. We look forward to working closely with our Chinese partners, supported by the National Development and Reforms Commission to meet the expectations of our shareholders and customers."

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Speaking at the inauguration, Song Ling, chairperson of TCS China, said, "The joint venture leverages the strengths of the different partners in technology, software development, and consulting, including the best-of-class processes and practices of TCS. It will also leverage experience and resources of the Chinese partners, which run the National Software Export Base."

TCS China will focus on Financial Services, Manufacturing, Telecom as well as the Government sector, providing IT outsourcing services and solutions to the Chinese domestic market as well as the global MNC customers.

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