LOS ANGELES, CA BUSINESSWIRE December 27, 2000 China World Trade Corporation recently announced that it acquired the remaining 49% equity interest of InfoTech Enterprises from Vast Opportunity Ltd. The acquisition was completed after 2.5 million new common stock shares of InfoTech were issued.
InfoTech, an information provider for traders in China, has a lot to offer China World Trade. Through its bilingual (Chinese/English) web site, China-WTC.com, InfoTech will offer online information and services to individual and corporate consumers, advertisers, suppliers, and vendors. InfoTech will also capture data and information (both trade and non-trade oriented), supported by metadata analysis, in order to provide business opportunities. And, with the addition of online two-way English/Chinese translation tools, users have a real bilingual choice.
The goal for both companies is to create a successful B2B e-commerce portal. With the addition of InfoTech, China-WTC.com users will be able to retrieve trade information, submit trade inquiries, negotiate contracts, and translate documents into their preferred language.
InfoTech Enterprises Ltd. becoming a wholly owned subsidiary of China World Trade Corp., brings a new concept into international business-to-business e-commerce, said John H.W. Hui, chairman and CEO of China World Trade Corp. With a staff experienced in Quality Assurance and Fulfillment, combined with state-of-the-art Internet technology, InfoTech Enterprises Ltd. will provide business overseas with the comfort required to do business in China. Moreover, through its links to government bodies it can ensure that the legal requirements of trade are satisfied, making for on time delivery.