Chinese business process outsourcing firm iSoftStone Holdings Limited has closed a round of undisclosed amount of financing from a collection of private equity and venture firms.

According to Ouyang Weimin, the director of Payment System Department of the People's Bank of China, PBOC plans to issue licenses to Chinese online third-party payment platforms to bring more competition and a higher level of security into this sector of the industry.

Chinese telecom equipment maker Huawei Technologies has announced the launch of its 2009 recruitment drive.

In an interview on Hong Kong Radio, Hong Kong Under Secretary for Financial Services Julia Leung said that about 400 enterprises in the Chinese mainland have been selected to participate in a Renminbi cross-border trade settlement pilot program.

Global telecom operators are under enormous pressure to develop next-generation telecom technologies, such as 3G, to meet market demands, but as a result of the global financial crisis, the majority of mainstream financing agencies based in Europe and the U.S. are trying to find ways to address issues such as inadequate liquidity and the credit [...]

Offshore software development company VanceInfo Technologies Inc. will deploy an outsourced development center for China Merchants Bank.

Chinese e-commerce provider Alibaba has announced an initiative to launch an online platform to help small and medium enterprises in China solve their difficulties in receiving financing.

Wells Fargo in the United States says it is working with its remittance network member bank Agricultural Bank of China to temporarily eliminate all remittance transfer fees for customers sending money using the ExpressSend service to friends and family in China impacted by the earthquake.

China Yuchai International Limited has appointed Hoh Weng Ming as its new chief financial officer starting May 1, 2008.