July 28 -- Shanghai Great Wisdom (601519), a provider of real time financial data through its terminals, plans to set up a subsidiary in Hefei, Anhui province, for 250 million yuan, reports yicai.com, citing a company filing.

The subsidiary will be located at the Hefei High-Technology Industrial Development Zone and will be in charge of the construction of a data center and a client services center.

According to Great Wisdom, the investment was made in order to meet increasing demands by its customers for financial data.

Source:Capitalvue