A ceremony to celebrate the establishment of China Economic Information Services (CEIS) is held in Beijing, capital of China, on April 26, 2016. [Photo: Xinhua/Li Xin]

The China Economic Information Service (CEIS), affiliated with Xinhua News Agency, was formally established in Beijing on Tuesday.

Committed to providing quality economic information to its clients worldwide, the CEIS integrates several Xinhua departments that were previously part of its economic information service.

Other major economic information providers are all supported by news agencies, said Xinhua President Cai Mingzhao, adding Xinhua has natural advantages in developing this type of business.

Xinhua will develop the service as one of its strategic priorities and strive to make it a globally important information service provider in line with China's economic status, Cai said.

The CEIS should be developed to lead the development of the economic information business in China, said Cai.

Xinhua has offered economic information services to clients since 1985, the first such service in the country. After more than 30 years of growth, Xinhua has established an integrated system for economic information with more than 20,000 subscribers worldwide.

The CEIS will make full use of Xinhua's global resources, including 5,000-plus news staff in 239 domestic and overseas branches, as well as its own professional team of almost 1,000 people, to establish economic information collecting arms in major regions and economic centers.

The CEIS will cooperate with domestic and overseas information providers in services, technology and markets.