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SunGard plans to boost investment

SUNGARD Data Systems Inc is increasing investment in China as it sees rising demand for risk management products from financial institutions such as commercial banks, its senior executive said yesterday in Shanghai.

"China is an important and long-term investment for us and we will keep investing in the market," said Brian Traquair, president of capital markets and investment banking at SunGard, yesterday in the city.

China is a major market for the firm in Asia and it is set to contribute more to the company's global revenue in the long run as demand for information technology services in the country will rise, he added.

Traquair also said the firm doesn't rule out acquisitions and mergers in China to accelerate its growth in the market. SunGard acquired home-grown Shanghai-based software provider Kingstar in late 2006.

Chinese banking authorities are demanding that commercial banks improve their IT infrastructure in risk controls. The China Banking Regulatory Commission yesterday issued a guideline requiring banks to strengthen their IT capacities in risk management.


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