BEIJING, Jan. 23 /Xinhua-PRNewswire/ -- Xinhua Finance (TSE Mothers: 9399 and OTC: XHFNY), China’s premier financial information and media services provider, announced that it has entered into an agreement to establish the Financial Innovation and Risk Solution Laboratory (hereafter, "the Laboratory") with the Institute of Applied Mathematics (IAM) under the Chinese Academy of Sciences. The Laboratory is chartered with the mission of furthering research in the fields of financial innovation and risk management and making contributions to the continued growth of the Chinese economy.
(Logo: http://www.prnasia.com/sa/200611140926.gif )
The Institute of Applied Mathematics is a world-class research institute founded in 1979 by Dr. Hua Loo-keng, the renowned Chinese mathematician, under the approval of the Chinese Academy of Sciences. Since its formation, IAM has engaged in numerous consulting projects, both in the public sector assisting Chinese government ministry policy-making and in the private sector performing risk analyses for Chinese financial institutions. It continues to spearhead the theoretical studies and practice of applied mathematics, particularly in the fields of probability, stochastic analysis and financial mathematics.
Financial Innovation and Risk Solution Laboratory researchers will develop suggestions on the improvement of China’s credit market through in-depth analysis of related market data. The Laboratory will also release quarterly progress reports on the healthy and sustainable development of China’s financial and credit risk management systems.
The Director of IAM, Dr. Gong Fuzhou, said, "The Laboratory’s establishment demonstrates both IAM’s and Xinhua Finance’s commitment to building knowledge that will be instrumental in bringing greater efficiency to China’s financial markets. We are optimistic that our mutual efforts will lead to greater diversification in terms of the financial instruments and risk management platforms available in China."
Mr. Jae Lie, President of Xinhua Finance, remarked, "We are delighted to forge a bond with the Institute of Applied Mathematics, undeniably the foremost organization of its kind in China. I expect that, through its research capabilities and Xinhua Finance’s support, a body of knowledge will be produced which will contribute to China’s financial markets and which can be directly applied to the development of cutting-edge financial applications."
Notes to Editors
About Xinhua Finance Limited
Xinhua Finance Limited is China’s premier financial information and media service provider and is listed on the Mothers board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADR: XHFNY). Bridging China’s financial markets and the world, Xinhua Finance serves financial institutions, corporations and re-distributors through four focused and complementary service lines: Indices, Ratings, Financial News and Investor Relations. Founded in November 1999, the Company is headquartered in Shanghai with 20 news bureaus and offices in 19 locations across Asia, Australia, North America and Europe.
For more information, please visit http://www.xinhuafinance.com .
About Institute of Applied Mathematics
The Institute of Applied Mathematics (IAM) is a world-class mathematical research which was founded in 1979 by the prominent Chinese mathematician, Professor Hua Loo-keng. IAM is engaged in fundamental theoretical research which may be applied to such fields as the natural sciences, technology, economics, finance, and management, in the service of national development. Since its foundation, the Institute has been focused on operations research, probability and statistics, and differential equations. In particular, the Institute has had international impact in the subfields of stochastic analysis, combinatorial mathematics, and nonlinear evolution equations. It has engaged in numerous consulting projects, both in the public sector assisting Chinese government ministry policy-making and in the private sector, performing risk analyses for Chinese financial institutions. IAM personnel provided valuable counsel to the State Council during the 1997 Asia financial crisis. There are 49 leading researchers presently at the Institute of Applied Mathematics.
For more information, visit http://www.amt.ac.cn .
