Huaqiao Financial Outsourcing Research Center (HFORC), recently established at HuaQiao International Service Business Park (HISBP), is a brainpower institution dedicated to studying and promoting the financial outsourcing business. It relies on the teaching and research competitiveness of Chinese and foreign universities and the brand advantage of famous enterprises in domestic and overseas financial outsourcing industries. HFORC applies itself to cultivating HISBP into a “Chinese financial outsourcing valley” and promoting the overall financial outsourcing service in the country.

HFORC has the following major functions: First, as the think tank of HISBP, HFORC will keep putting forward innovative ideas, trains of thoughts and implementation programs to furnish new services and incubate new products for the development of HISBP. It will gradually set foot in the fields of information technology and medicine R&D outsourcing services. Second, as an institution promoting the brand of HISBP, HFORC will publish latest books on the outsourcing service industry, sponsor seminars on financial outsourcing service, hold summit meetings on financial outsourcing service, release annual reports on Chinese financial outsourcing service, build HISBP into the country’s first-class financial outsourcing industrial base, and cultivate HISBP into “China’s leading financial outsourcing industrial park”. Third, HFORC will integrate relevant resources to actively study financial outsourcing in the country. It will also facilitate exchanges and cooperation between Chinese and foreign financial outsourcing businesses, so as to fully elevate China’s financial outsourcing services and promote the industrial development.

HFORC will set up offices in Kunshan and Beijing. It will take the post-doctoral workstation at HISBP as a platform to launch standardized, pioneering and high-level academic researches on Chinese and foreign financial outsourcing services. It will undertake research missions of the state and government departments to study Chinese financial outsourcing industry. It will study and introduce the current situations of Chinese financial outsourcing services with first-hand materials from surveys and researches. It will raise proposals to decision-making authorities on the development prospects and business performances in the outsourcing industry. It will publish Annual Report on China’s Financial Outsourcing Service. It will organize editing and translating China Financial Outsourcing and China Financial Innovation, and book series on modern service industry. It will establish and maintain the web site of the research center to publicizing latest movements in the financial outsourcing industry to the society. It will organize editing Financial Outsourcing, a research periodical on financial outsourcing service. It will explore outsourcing theories and technologies, promote best practices in the industrial sector, reflect problems and challenges emerged in the course of industrial development, and raise rationalization proposals to decision-making bodies. It will release brief reports at regular intervals.

According to its schedules, HFORC will open up its website, start publishing the Financial Outsourcing periodical, and release brief reports on financial outsourcing services in this year. In the second half of this year, it will sponsor a meeting discussing the annual report and a seminar. In September, it will complete one of the China Financial Outsourcing book series. In October, it will contribute to sponsoring the China Financial Outsourcing Convention. In November, it will cooperate with other parties to sponsor the Shanghai Financial Forum. In December, it will work with McKinsey & Company to write the Annual Report on China’s Financial Outsourcing Service.