REUTERS have entered the financial pager market in China with the introduction of a service in Guangdong. The service will provide close to real-time forex quotes on 10 major currencies, including deutschemark, yen and sterling. Also available are rates for yuan from 15 swap centres in China for which Reuters has exclusive rights. ''We believe the demand for a financial paging service is high in Guangdong,'' said David Brocklehurst, managing director for Reuters East Asia. ''Dealers, brokers, analysts and many investors are becoming increasingly active in the money markets as the financial sector becomes more sophisticated. ''The potential for extending the service to other parts of China is being considered and will be pursued as the interest and expertise in forex markets continues to grow,'' he said. Mr Brocklehurst said the pagers would be made available through a joint venture agreement involving Reuters, which would provide financial information; the Hexagon Group, for sales, marketing and data base management, and the Huaying Nanhai Oil & Telecommunications Service, which would manage the paging network. Mr Brocklehurst said Reuters now had financial paging services in all the world's major financial capitals. ''Guangdong was an obvious choice in China because of the number of companies and corporations dealing in international trade, plus the [number of] banks.'' The pagers sell for about 300 yuan (HK$405) and users pay a monthly fee of between 250 and 300 yuan for the information.
