February 22, 2000
Digital Gas launches international trade portal -- By Samantha Chan
New York-based Digital Gas' newly formed subsidiary, Qingdao Harbor Trading Company, has launched an international trade portal at qingdaoharbor.com. Digital Gas is primarily a provider of domestic and international oil and gas services with an oil and gas joint venture in China.
In addition to providing export and import services, Digital Gas's other subsidiary in China, Digital Kommerce Network Inc, will concentrate on manufacturing and distributing advanced computer systems and networked information terminals with a vision to build an integrated "information network empire" in China.
Qingdao has already signed two year agreements with 100 manufacturing, consumer products, electronics, chemical and other companies in China that will participate in the electronic exchange and offer both goods and services.
Qingdao Harbor will receive revenues from participating parties as well as advertising. According to Qingdao officials the company also stands to receive substantial income from directly facilitating trade between Chinese and international companies where transactions and transactions may need a sales or marketing person to help close deals.
The company has already successfully closed its first deal with Petcetera Inc, a wholesaler and distributor of pet products based in New Jersey, which purchased environmentally friendly cat litter over the Web from a Chinese supplier.
Qingdaoharbor.com will be powered by U-Know Software Corporation's product information search technology. U-Know has a 20 percent interest in Qingdao Harbor Trading Company.
In order to strengthen business development efforts in China, Digital Gas has entered into a consulting agreement with the Chinese Business Services Group of New York-based Deloitte Touché Tohmatsu. In addition, Digital Gas management will soon finalize negotiations on pending business deals and will spend time in China investigating new business opportunities for the company and its subsidiaries.
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