Recently, the Assets Supervision and Administration Commission of the State Council (SASAC) in China issued an interesting notice essentially calling state-owned businesses to coordinate, integrate, and digitalize their management systems to ensure both quality and security. It also encouraged them to accelerate their move to an ‘international standard’ while emphasizing the importance of integrated risk management systems. Indeed, all state-owned firms involved with commodity derivatives business are now required to deploy a risk management system in order to strengthen internal controls, compliance, financial management, and technology management, and enhance efficiencies. It’s essentially calling for state-owned business’ to deploy CTRM solutions where appropriate, says Pengcheng Zheng, General Manager of Enuit China. Mr. Zheng told me that in the first half of 2020, COVID-19 had essentially frozen the CTRM Market with only 3-4 new projects moving forward in that period. Subsequently, things have begun to move again. However, he says that the Chinese market remains somewhat difficult as a result of tensions between China and the USA and that because of this, many state-owned businesses are looking to the domestic market for solutions. “Enuit has been in the Chinese market for some time,” he told me. “We are pretty much the only foreign vendor operating… continue reading
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