From the Wires
Transforex: Making RMB Exchange Easier
By: PR Newswire
Dec. 25, 2012 07:57 AM
BEIJING, Dec. 25, 2012 /PRNewswire/ -- On Dec. 5, 2012, the award ceremony of Transforex's nationwide franchise in currency exchange qualification was held successfully at Beijing Tangla Hotel. Deputy Secretary of State Administration of Foreign Exchange Wang Xiaoyi and HNA Group Board Chairman Chen Feng each gave a congratulatory speech. Secretary of the Tianjin Branch of the State Administration of Foreign Exchange Lin Tiegang, Director of Balance Department of State Administration of Foreign Exchange Guan Tao, Deputy Director of Tianjin Finance Office Kong Dechang, as well as representatives from HNA's business partners, sister organizations and more than 50 news agencies (including CCTV,CBN, 21cbh）attended the ceremony.
During the ceremony, Transforex, was issued the Certificate of Nationwide Franchise in Currency Exchange Qualification by Secretary Lin Tiegang, hence becoming the first and only non-financial institution that has acquired such a qualification so far in China, which formally marked the scope of Transforex's currency exchange business extending from the local market to the national market.
The Certificate of Nationwide Franchise in Currency Exchange Qualification will allow the money exchange company to add more branches and provide exchange service in many commercial areas throughout mainland China.
Transforex is jointly invested by HNA Tourism Holding (Group) Co. Ltd and HNA Capital Holding Co. Ltd. Currently, it has set up 6 subsidiaries, 30 branch offices and 42 sales networks in 25 regions throughout the country including Beijing, Shanghai, Hong Kong, Guangzhou, Shenzhen, Tianjin, Hangzhou, and Xiamen, etc. Meanwhile, 18 regions have gained the franchise license issued by SAFE, including Beijing, Tianjin, Hainan, Shenzhen, Xinjiang, Guangzhou, Yunnan, Shandong, and Zhejiang, etc. Transforex is now the largest foreign currency exchange company in the country.
Transforex helps travelers benefit from tax-free shopping abroad and assists travelers with obtaining refunds after they finish their travels. Transforex also provides VAT（Value Added Tax）reimbursement agency service and can accept refund checks issued by Innova tax-free and Premier tax free group. Transforex strives hard to offer integrated, one-stop tourism services to travelers.
Please visit http://www.transforex.com.cn/ for more information.
SOURCE HNA Group
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