China B2B Platform Established
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[Hong Kong] -- A company partially controlled by China's State Council has launched a B2B portal.
ChinaEB, a joint venture between the State Research Information Technology Co. Ltd (SRIT) and Commerce One has been officially launched.
SRIT is a state-owned company established in 1998 by the Development Research Center, a think tank under China's State Council, Beijing Telecom, Shan Dong Lu Neng Development Group, and Beijing Dragon Base Industry and Trade Ltd. (BDB).
Commerce One is a US based provider of B2B software applications and platforms. The company normally takes an equity, or financial stake in the company that it sells the software to. ChinaEB is aimed mainly at providing an online marketplace for Chinese large to medium sized enterprises to sell their products to overseas buyers.