RECAP OF DEAL WITH PEOPLE'S DAILY ONLINE, TOP GOVT SITE & PAPER (read below):
News June 18, 14:30 Eastern Time
CHINAMALLUSA.COM IN STRATEGIC ALLIANCE WITH ONE OF CHINA'S MOST POPULAR INTERNET SITES
NEW YORK, Jun 18, 1999 /PRNewswire via COMTEX/ -- ChinaMallUSA.com Inc. (OTC Bulletin Board: CHML), an e-commerce company facilitating trade between the United States and China, announced today that it has agreed with People's Daily Online Edition to form a strategic alliance in an effort to jointly promote development of e-commerce in China.
People's Daily Online, peopledaily.com.cn, was launched in January 1997 by the People's Daily, the largest circulation newspaper in China. The People's Daily Online Edition, which provides 24-hour news coverage in both Chinese and English, has become one of the most visited Internet sites in China, receiving approximately 800,000 visits per day.
"This joint effort with People's Daily Online will greatly enhance our company's ability to expand its membership network in China through the newspaper's advertising and broad exposure," said ChinaMallUSA.com Chief Executive Officer Max Chen. "And the joint effort can also boost the advertising revenues of People's Daily Online significantly as more companies begin marketing online through the People's Daily website."
Established for the purpose of marketing Chinese and U.S. products through the Internet, ChinaMallUSA.com is one of few companies licensed by the Chinese government to conduct business on the web and the only foreign firm to holda license to conduct retail operations throughout the entire country. The company provides Internet marketing, selling, information, and web leasing, and has developed websites for e-commerce between the U.S. and China (chinamallusa.com, chinamall.net, and wholesaleglobal.com) allowing direct access to products and services by companies and consumers in both countries.
ChinaMallUSA.com has established firm relationships with strong business partners such as Beijing Urban-Rural Trade Center Co., Ltd., Beijing Urban-Rural China Chem Group Co., Ltd., and China Township Enterprise Investment Development Corp. These three companies, which have a combined total of more than 30,000 affiliated firms in China, Hong Kong, and Taiwan, have requested that their member companies participate in the ChinaMallUSA.com e-commerce program.
ChinaMallUSA.com receives an initial fees ranging from $500 to $1,000 and annual renewal fees averaging $500 for participation in its online e-commerce program.
A number of statements contained in this release are forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that CHML may achieve may differ materially from any forward-looking statements due to such risks anduncertainties. |
