One of the world's biggest suppliers of financial software has opened an office in Beijing aiming for a significant share of the China market as its banks rush to meet global standards. Rupert Soames, chief executive of the banking division of Misys, presided at the opening of the office at a ceremony attended by senior Chinese banking and government officials. The company describes itself as the world's leading supplier to banks and other financial institutions of mission-critical applications, including online trading, accounting and record keeping. Mr Soames said: 'We started doing business with large financial institutions in China 10 years ago, including the big four state banks and the State Administration for Foreign Exchange Control. 'Last year, we had revenues from Chinese customers of US$3 million, out of global revenue of US$500 million. 'Most of this business was with the overseas operations of the banks. 'Now, with China's entry into the World Trade Organisation, the financial institutions are more engaged with the big world and the head offices are determined to modernise their systems.' He said Misys hoped that future sales in China would be a significant part of the company's overall revenue. Last year, the Asia-Pacific region accounted for 27 per cent of the firm's revenue from its banking division, employing 600 of its 3,000 staff. The banking division accounts for 70 per cent of the earnings of Misys, with operations in 25 countries, and its client list includes 75 per cent of the world's top 250 banks and 95 per cent of the world's top 50 banks. For the year to May 31 last year, Misys, a FTSE-250 company, reported revenues of GBP849 million (about HK$9.31 billion) and adjusted operating profits, from continuing operations, of GBP140 million. It employs more than 6,500 people.