Xinyinhai is one of only 15 manufactures of banknotes in China. Clients include Bank of China, China Construction Bank, China Life, China Rural Credit Union, China Postal Services Regulatory Bureau, Agricultural Bank of China and the China Construction Bank.
Instead of competing against global financial printers chasing a trend of supplying one-stop shopping to China’s public companies that are increasingly faced with shorter printing time lines due to the disclosure requirements of Sarbanes-Oxley, Xinyinhai is following another trend, a trend toward greater accountability for China’s banking and insurance industries.
China’s Central Government is demanding greater use of invoices and other evidentiary documents as well as anti-falsification technologies to enforce tax compliance. This trend should lead to greater outsourcing of high-end printing, increased demand for Xinyinhai’s products and services, and create M&A opportunities among China’s highly fragmented 97,000 printers, which are predominately low-end enterprises that can not afford advanced printing technologies.
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