COMPAQ INVESTS IN E-COMMERCE IN CHINA
CHENGDU, Mar 03, 2000 (AsiaPulse via COMTEX) -- The Compaq Computer Co
of the United States will team up with the Traditional Chinese Medicine
(TCM) Modern Technology Industry (Sichuan) Base to build the world's
largest TCM e-commerce network in Southwest China's Sichuan Province,
according to a memorandum signed here recently.
Compaq has also signed an agreement on setting up an e-commerce joint
venture with the Sichuan Provincial Commerce Group and the Sichuan
Internet Information Highway Network Engineering Co.
By the agreement, Compaq will provide the joint venture with US$1
million worth of PC equipment and e-commerce solutions and US$500,000
of investment, while the local partners will be committed to a 51%
share.
The investment in TCM e-commerce is treated as Compaq's first step to
the e-commerce market of Sichuan Province. The Compaq Sichuan
E-Commerce Company will promote e-commerce in all walks of life in the
province.
In the meantime, Compaq announced that it will cooperate with CMGI and
the Shanghai Information Investment Co., Ltd. in Internet service.
According to an agreement signed, they will build a joint venture in
Shanghai to provide a full range of Internet and E-commerce services to
local governments and enterprises.
(XIC)
(C) 2000 Asia Pulse Pte Ltd |
