Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (63477)	9/28/1999 8:52:00 AM
From: Mr. Big	Read Replies (2) \| Respond to of 120523

AOL, China.com Launch AOL Hong Kong By TARA SUILEN DUFFY Associated Press Writer HONG KONG (AP) - America Online Inc. (NYSE:AOL - news) and China.com launched AOL Hong Kong on Tuesday amid concerns over the Chinese government's threat to enforce a ban on foreign investment in Web-based ventures on the Chinese mainland. AOL, the U.S. Internet access provider with 18 million users worldwide, refused to put a value on the deal that will offer Chinese and English-language content designed for local Hong Kong customers. AOL Chief Executive Steve Case said his company hoped to expand from Hong Kong into mainland China, playing down recent remarks by China's information minister, Wu Jichuan, on enforcing a ban on foreign investment in Internet companies. ''It's only a matter of time before the markets there open up and Internet companies of all sorts are able to provide their services,'' he said at a news conference. Case said he would have a better idea of the opportunities for investing in China after talking with Wu and other Chinese leaders on his next stop in Shanghai where he's also planning to meet Hong Kong Chief Executive Tung Chee-hwa. In a sign that foreign companies are going ahead with investments despite Wu's threat, Yahoo! Inc. of the U.S. launched a China-based Internet site on Friday with a local partner. China has banned foreign ownership of telecommunications and Internet companies for several years, but largely ignored the regulation. Hong Kong, which reverted to Chinese rule two years ago and is largely autonomous, is exempt from the ban. Peter Yip, of China.com, which was recently listed on the Nasdaq index in the United States, said the partnership hopes to work with the Hong Kong government in its goal to become ''the information gateway'' to mainland China. The territory has been trying to revamp itself as a high-technology hub in Asia. China.com's affiliate China Internet Corp. and StarEastNet.com, a Hong Kong-based self-styled ''web of the stars,'' also teamed up with AOL for its new venture. Film star Jackie Chan, a director of Star East, was set to participate in a live chat on AOL Hong Kong later Tuesday. AOL owns an 8 percent stake of China.com. Other key shareholders are China's state news agency, Xinhua, with a 10.9 percent, and Hong Kong-based New World Infrastructure, with 18.2 percent. Despite a spotty track record, China.com, with its perfect name playing on the hype of both China and the Internet, attracted a hoard of investors when it went public in mid-July. The Hong Kong-based company was the first Chinese-language Internet company to list in the United States. With the new Hong Kong venture, AOL offers services in 14 countries in six languages.