Printed Page Length: 41 pages
Number of Tables: 4
Number of Figures: 3
By: Frank Fang
Senior Research Manager, Vertical Industry Research and Consulting, IDC China
Price $ 4,500.00
This IDC study presents our survey results and research, for the first time, on China's financial industry professional testing services market. Through interviews with key financial customers including China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC), China National Development Bank, Agricultural Bank of China (ABC), CITIC Bank and China Life Insurance, as well as with major third-party financial industry professional testing service providers in China and industry experts, and based on research results and primary sources concerning China's financial industry, this study — which is also the first research done by an independent consulting company on this market — summarizes and analyzes the status, characteristics, and competition landscape of China's financial industry professional testing services market in 2011, and predicts the future trends in this market.
"China's financial industry professional testing services market is developing very fast, but still in a preliminary stage. The completion of data integration by state-owned commercial banks during the 11th Five-Year Plan period generated a surge of demand for testing services. In the 12th Five-Year Plan period, as China's financial administration and supervision authorities attach greater importance to risk control, there will be greater demand for financial system stability. The vast number of urban commercial banks and rural financial institutions with insufficient R&D or testing capabilities will generate remarkable demand for independent third-party testing services. Competition among China's independent third-party testing service providers is so stiff that each of the key players is leading a specific market segment. Professional third-party testing service providers in China should endeavor to elevate testing skills and follow the idea of life cycle test. Testing processes should be fully combined with the banking business, while management of tests should be simple and effective. This is the foundation for improvement. Effective test management can reduce risks and raise success rate," said Frank Fang, senior research manager, Vertical Industry Research and Consulting, IDC China.
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