Experian, a leading global information solutions company, announced the establishment of its first Chinese representative office in Shanghai yesterday.

The company hopes to drive its marketing and credit information services across various industries, specifically targeting banking and finance, advertising and marketing sectors, it said.

The new office will be selling Experian products such as MOSAIC China, a neighbourhood segmentation system specifically catering to the Chinese market, company executives said.

It is "proof of our commitment to bring into China the best practices in marketing and credit information management essential for the country's continuing growth," said John Harker, regional director for Experian's Asia Pacific operations.

The official told China Daily the company hopes to open a second office in Beijing "within the next three months," which will be advising government agencies on the nation's legal framework for sharing credit information, besides selling products.

Experian executives also said the company will branch out in other key Chinese cities by collaborating with local business partners as well as establishing its own offices, but it did not elaborate.

Experian is eyeing the huge business potential from the Chinese Government's drive to build a nationwide credit information system that the economy badly needs.

"It's a great achievement for China to start building a financial and credit environment system," Harker said. "Experian is committed to working with the Chinese Government to ensure the country's credit information infrastructure is built up to support its long-term growth and stability."

Although local credit information companies have been complaining about difficulties in obtaining key data that are currently controlled by government agencies, Harker said he saw signs that the central bank are seeing the benefits of partnerships with private information management firms.

Source: China Daily