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Tata Consultancy Services has kicked off its joint venture with the Chinese government with a multi-million dollar contract to implement an international trading system for the Chinese Foreign Exchange Trade System (CFETS). The size of deal was not disclosed. TCS (China),[link widoczny dla zalogowanych], will function from the new premises at the Z-Park in Beijing. TCS Asia Pacific owns 65% in the JV and three Chinese firms under the umbrella of the National Development and Reforms Commission (NDRC) own 25%.
The firms are the Beijing Zhongguancun Software Park Development,[link widoczny dla zalogowanych], Uniware,[link widoczny dla zalogowanych], and Tianjin Huayuan Software Area Construction and Development. Microsoft is expected to pick up the remaining 10% in the JV. TCS termed the JV as China's first large-scale outsourcing technology company. The JV will focus on financial services,[link widoczny dla zalogowanych], manufacturing,[link widoczny dla zalogowanych], telecom verticals and the government sector.