CBQ, Inc. Accelerates China Development Strategy, Applauds U.S. House of Representatives' Vote On Permanent Normal Trade Relations for China.Business Editors HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , SHENZHEN, China and ADDISON, Texas--(BUSINESS WIRE)-- May 25, 2000 CBQ See traffic engineering methods. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBQI) The E-Business Marketplace announced today that it will accelerate its China development strategy as a result of yesterday's vote by the U.S. House of Representatives to normalize normalize to convert a set of data by, for example, converting them to logarithms or reciprocals so that their previous non-normal distribution is converted to a normal one. America's trade ties with China. CBQ, Inc. had urged the Ways and Means WAYS AND MEANS. In legislative assemblies there is usually appointed a committee whose duties are to inquire into, and propose to the house, the ways and means to be adopted to raise funds for the use of the government. This body is called the committee of ways and means. Committee of the U.S. House of Representatives to report the permanent normal trade relations Permanent Normal Trade Relations (PNTR) status is a legal designation in the United States for free trade with a foreign nation. In the U.S. the name was changed from Most Favored Nation (MFN) to PNTR in 1998. legislation favorably to the full House. CBQ, Inc. has made a number of moves over the last year to promote its aggressive engagement with China. The company recently announced plans to change its name to 1stinChina, Inc. to reflect its pioneering efforts there in wireless telecommunications, software development and online business to business trade. "The passing of this bill will be looked upon as the beginning of the opening of China for U.S. business," said John Harris John Harris may refer to: Dr. John Harris Internationlly Known Educator, Speaker, Philosopher, Theologian, and HomileticianItalic text http://www.thehistorymakers.com/biography/biography. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CBQ, Inc. "The pending name change to 1stinChina, Inc., represents a solid shift in our business strategy." CBQ, Inc. has formed several subsidiaries to take advantage of the Chinese marketplace: China Wireless, Inc. is developing a wireless Internet network in China; ChinaSoft, Inc. is leveraging the lower costs of software development in China; and China Partners, Inc. is positioned to become a leading business to business online trade portal for more efficient trade between the United States and China. "CBQ is delighted that China will join the World Trade Organization," said Bart S. Fisher, chairman, CBQ, Inc. "With China as a full member of this rules-based organization for trade, CBQ and other U.S. companies and their investors will reap the rewards of the House's decision in the future." Fisher expects permanent normal trade status for China to positively impact all three CBQ, Inc. business areas in China. He said the China Wireless, Inc. subsidiary will find the regulatory climate regulatory climate The extent to which a regulated firm or industry is permitted to earn an adequate return on the stockholders' investment. This term is nearly always used in reference to utilities, which are required to obtain approval for rate changes. for its involvement with Wanlitong Information Network (www.95960.net) greatly clarified for foreign investment. Beijing-based ChinaSoft, Inc. will see increased business due to other companies' willingness to work with China. China Partners, Inc. online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. portal opportunities will be enhanced with the reduction of trade barriers between the United States and China. And Fisher hinted of other business areas CBQ, Inc. may enter. "We will aggressively seek market opportunities in other fields in China as well, including the healthcare area," he said. About CBQ, Inc. -- CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer driven e-business solutions. Through its subsidiaries, Reliance Technologies, Inc. and Priority One Electronic Commerce Corp., it can design, implement, host, build traffic and process payments for its customers' e-business initiatives. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint-venture partner with CCSoft Technology Developing, Ltd. (formerly, Beijing Zhongruan Zhixun Technology Developing Co.). Services include Software Development for Enterprise computing and Internet Development. For more information about CCSoft, visit www.ccsoft.com.cn. China Partners, Inc. is a wholly-owned subsidiary of CBQ, Inc. that focuses on facilitating trade and investment opportunities between companies in the United States and Chinese through its trade portal, Chinapartners.net. For more information on CBQ, Inc., visit www.cbq.com. This news release includes forward-looking statements related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. |
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