An agreement-signing ceremony for an Internet Finance Comprehensive Industrial Park (Huaqiao, Kunshan) was held in Huaqiao International Service Business Park (HISBP) on Dec 13.

The internet finance park, financed by Warburg Pincus and ISoftStone, will officially settle in HISBP. It will help fill the gap in Huaqiao’s financial e-commerce industry.

Warburg Pincus, a global private equity firm, owns stakes in over 500 companies in more than 30 countries around the world. As the main investor and constructor of the comprehensive industrial park, it is in charge of the investment and construction of a headquarter office and data center in Huaqiao.

ISoftStone (NYSE:ISS), a leading IT service provider with clients in such industries as technology, communication and banking, is responsible for the park’s operation. Its three major projects, including an operation center, a financial outsourcing project and a settlement center, will be operated in the park. Output is estimated to be 5 billion yuan ($824 million) after three-years.

Guan Aiguo, secretary of the Kunshan municipal Party committee; Lu Jun and Dang Jianbing, mayor and vice-mayor of the city of Kunshan, respectively; Zhou Zhi, managing director of Warburg Pincus; and Liu Tianwen, CEO of IsoftStone, were on hand at the three-party signing ceremony.

Edited by Michael Thai