TISCO Financial Company Ranks Class A in Annual Industry Rating

Recently, 2015 annual industry rating results for finance companies of enterprise group is released. TISCO Financial Company is rated as Class A (innovation type) financial company among 222 eligible finance companies, becoming the only Class A financial company in Shanxi province.

All eligible finance companies of enterprise group are evaluated comprehensively mainly from 17 quantitative indicators of four aspects: centralized fund management ability, management and service ability, risk management ability and profit ability. A total of 68 financial companies are rated as Class A (innovation type) finance company. TISCO finance company ranking Class A shows its overall business development has reached domestic advanced level of financial companies.

As reported, supervision department will carry out new regulatory policy of classification supervision and access on financial companies in the next step according to industry rating results. According to requirements of risk control, access business is divided into basic business, upgrade business and innovation business, therefore, TISCO financial company ranking into Class A means it is qualified to apply for supply chain finance, derivatives product trading, financial bonds issuance and other innovation business qualifications, and able to further enhance the ability of financial services and value creation.

 

TISCO Financial Company, founded in January 2013, is capital centralized management center and financial service center of TISCO Group. The company has established "RMB pool", "foreign currencies pool" and "bank notes pool", realized all the collection of RMB, foreign currencies and note funds, provided clearing, credit, notes, foreign exchange and other financial services for group members, and actively carried out securities investment and finance trade business. During 3 years after establishing, besides basic business qualifications, the company gained foreign currencies business qualifications such as buyer's credit, securities investment, bond underwriting, prompt written guarantee, cross-border RMB two-way pools, cross-border foreign concentrated operation management by rapid development; The company joined the electronic commercial draft system (ECDS) of People's Bank of China and become a member of interbank lending market, foreign exchange market and bond market. TISCO is the first multinational enterprise group in Shanxi Province wining the qualification for cross-border RMB, cross-border foreign currencies business. Financial company with above business has supported the operation of overseas funds centralized operation of TISCO Group and expanded new overseas financing channels, which are beneficial to the improvement of whole fund management ability of the group company.