IBM to Open China-Based Financial Center; Shang Wenzhu Comments

IBM Corp. plans to open a Baohe, China-based financial innovation center, Anhui reported Thursday.

Sha Qing writes the center will be built to facilitate financial outsourcing, international pan-financial data processing and online financial services.

“We bring foreign advanced IT technology and integrate finance with more lines,” Shang Wenzhu, IBM general manager for China strategic cooperation and innovative development, told the publication.

IBM intends for the center to attract financial technological enterprises and generate $1.2 billion in annual industrial value.