In a speech delivered at the China Banking, Financial Services and Insurance (BFSI) Outsourcing Summit held yesterday at Huaqiao Economic Development Zone in the east end of Kunshan, Zhejiang province, Long Yongtu, Secretary-General of the Boao forum, said China’s BFSI is invulnerable to the attack of the financial crisis, which was caused by America’s subprime mortgage loan, adding “BFSI outsourcing in China is promising”.

Long Yongtu, Secretary-General of the Boao forum

Dr Peng Zhuangzhuang, a McKinsey Global partner, declared the same opinion. He said FBSI BPO, an emerging industry in China, has developed fast, with a 20% development rate for each year.

“The main force of investment for 2010 will be medium- and small-sized enterprises and private businesses, which requires quantity of technical support from BFSI outsourcing providers,” said Tang Min, deputy secretary-general of the China Development Research Foundation.

He called on banks to create new loan models to help small loan companies finance and develop.

By Paul