March 17, 2010 (FinancialWire) — Information Services Group, Inc. (NASDAQ: III) said that its TPI unit, a sourcing data and advisory firm, has signed an extension of its agreement to help Huaqiao become the hub of financial services outsourcing in China.

The new contract runs through 2010 with optional extensions through 2012. Financial terms were not disclosed.

Since September, TPI has been working with Huaqiao to create China’s first operating protocols and standards for outsourcing industry participants. The protocols and standards, which will address issues such as business setup, data privacy, intellectual property, measurement and reporting systems and training and education, are designed to increase the city’s appeal to global sourcing buyers, service providers setting up delivery centers and global corporations building captive or shared services centers.

Huaqiao is an economic development zone focused on services outsourcing. The Huaqiao International Service Business Park, which is located 12.4 miles east of central Shanghai, is slated to employ 300,000 people and produce $15 billion in annual revenue within five to 10 years.

Connecticut-based Information Services Group was founded in 2006 to acquire a businesses in advisory, data, business and media information services. In November 2007, the company acquired TPI.

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