NetSol Technologies, Inc., provider of global business services and enterprise application solutions, is forming a wholly owned subsidiary in China. To date, the company has operated in the region out of its representative office in Beijing.

China’s Economic growth, government economic stimulus policies and ten consecutive years of double-digit increases in disposable incomes are driving higher levels of demand for the company’s automotive and consumer finance software solutions, said NetSol officials.

NetSol expects to grow China specific revenues to nearly 25 percent of total revenues in fiscal year 2010. In addition to the core NetSol Financial Suite™ solutions, the company plans to offer a number of additional services through its Chinese Delivery Center.

NetSol officials said the company will follow a comprehensive compliance process while forming the new subsidiary. And the company anticipates the process to be completed within the current fiscal year.