NCR Looking To China For Growth
BIEJING, CHINA - An executive with NCR's Chinese division has told wire services that the company, which is a leading manufacturer of ATMs for the U.S. market, is gearing up for a big push into China in 2006. According to the package of market concessions that China signed as a condition of its joining the World Trade Organization, China will have to allow banks based outside the country access to its financial service markets in 2006. For many companies, NCR hopes, getting that access efficiently will mean sharply increasing the ATM networks across the country and that Chinese banks will respond by increasing their own ATM networks. CUNA Mutual is one credit union player looking to expand into China. It already has an office there and is working on developing a relationship with rural cooperatives.