Systems Union Group, a world's leading supplier of financial and business management software, has set up its first subsidiary and research and development center in Shanghai, the biggest city in China.  

Ashley Clarke, executive president of the group's Asia and Pacific department, said that China was the fastest-growing market for financial management and intelligent software in the Asia and Pacific region with an average annual growth rate of 30 percent in the past five years.

The center is the only research and development institution setup by the group outside Britain, where the company is based.

Iain Bishop, who is in charge of the group's research and development, said the Shanghai center would focus on financial software products for four-star hotels and the manufacturing sector, and was considering transferring some core business from its headquarters.

The software produced by the group is published in 30 different languages, which are suitable for multinationals with global markets.

(Xinhua News Agency August 9, 2003)