Tata Consultancy Services (TCS) has launched a new joint venture in China, TCS China, a large scale outsourcing technology company. TCS Asia Pacific owns the majority of the JV with a 65 per cent stake. The three Chinese partners, supported by the National Development and Reforms Commission (NDRC), hold 25 per cent with Microsoft expected to take up the remaining 10 per cent.

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.

TCS has also won a multi-million dollar contract to implement a comprehensive international trading system for China Foreign Exchange Trade System (CFETS). The solution will be based on TradeX – TCS’s futuristic trading solution. The deal paves the way for TCS to implement a forward-looking CNY (China Renminbi) trading system for CFETS. ( Tata Group )