BIZCHINA / Overseas Investment |
New joint venture to foster trade(China Daily)Updated: 2006-11-27 14:12 SAI Global Limited, an Australian service provider in standards, compliance and business improvement solutions, has established a joint venture with the China Quality Certification Centre (CQC), the country's largest certification body. The new Beijing-headquartered 50-50 JV CQC-SAI Management Technologies (Beijing) Co will provide services to Chinese enterprises seeking to access international markets and connect overseas sellers to the Chinese market. Declining to reveal its exact investment in the deal, SAI Global Limited Chairman George Edwards said the Australian side had already ploughed in US$500,000, with more to come as the business grows. The new firm will focus on four areas management system certification agent services, product certification agent services, compliance services and training. Edwards said the firm aims to provide a "one-stop service" to its customers in China, adding that the two sides in the joint venture are the best in their respective fields. "CQC represents independence and impartiality, standards and precision, high quality and efficiency," he said. "SAI Global represents innovation and quality, education and knowledge, safety and security." Many opportunities exist in China's certification service sector, noted Edwards, pointing out that the nation has become the world's major manufacturing base for high value-added products, as well as the major destination for quality overseas investment. CQC President Li Huailin said the firm first became interested in a partnership with SAI Global as early as four years ago, noting that its cutting-edge services and solutions will further enhance the quality of CQC's technology and services. "SAI Global can also bring Australian clients to the new company," Li added. Statistics from the Chinese Ministry of Commerce show that Australia is now China's ninth-largest trading partner, while China is Australia's third-largest trading partner. Bilateral trade grew 34 per cent year-on-year in 2005, reaching US$28.4 billion. SAI Global believes CQC, which has a presence in almost every province, autonomous region and municipality in China, "can bring us abundant customer resources," Edwards said. (For more biz stories, please visit Industry Updates) |
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