in Deal With People’s Daily Online Inc., an e-commerce
company that facilitates trade between the United States and China, formed an
alliance with China’s People’s Daily Online Edition to
promote the development of e-commerce in China.

People’s Daily Online 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, now claims
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 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 Web site.”

Established for the purpose of marketing Chinese and U.S. products through
the Internet, said it is one of few companies licensed by
the Chinese government to conduct business on the Web and the only foreign
firm to hold a license to conduct retail operations throughout the entire

The company operates, and for e-commerce
between the U.S. and China, allowing direct access to products and services
by companies and consumers in both countries.

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