China's Largest Internet Stock Brokerage Firm to Deploy China E-Commerce Technologies' Solution for Online Stock Services.Business Editors/High-Tech Writers FREMONT, Calif.--(BUSINESS WIRE)--June 30, 2000 China E-Commerce Technologies Co. Ltd. (CECT CECT Contrast Enhanced Computed Tomography CECT Chemical Engineering and Chemical Technology ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Internet Corporation, announced today that it has signed an agreement with China Communication Securities Co., Ltd. to promote CECT's set-top-box solution for online stock and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. starting in Guangzhou, China. China Communication Securities is the largest Internet stock Internet stock The equity security of a company engaged primarily in a business associated with the Internet. Also called dot-com. brokerage firm, with a nationwide network that trades on China's Shanghai and Shenzhen Stock Exchanges Shenzhen Stock Exchange One of two major securities markets in China. . China Communication Securities plans to expand its online customer base by distributing CECT's user-friendly Internet Appliance to its customers. CECT will begin delivery of the set-top box solution in July to China Communication Securities' trading clients for online stock and financial services at home. CECT provides secure, seamless "one-stop" full service transactions, which include an ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. network connection, portal services, and fund transfers between the bank and the stock brokerage firm with ease and efficiency. Currently, most Chinese investors must go personally to their stock brokerage branches to do stock transactions. "This user-friendly Internet Appliance is well suited for the vast number of Chinese consumers who want convenient access to stock and financial services without the complexity of operating a PC," stated He-Tien Yu, General Manager of Guangzhou China Communication Securities. "Actively promoting the use of this TV-based solution to our clients will further solidify us as the leader in this rapidly growing industry." "With this endorsement by China's largest Internet securities brokerage firm, we have positioned ourselves to become the Internet Appliance solutions leader in delivering online stock and financial services to consumers in China," said Johnston Chen, president and chief executive officer of Internet Corporation. "Our proven low cost, easy-to-use solution has now moved into the mainstream as we take on an active role in promoting the growth of the Internet market in China." "Guangzhou is a city of over 11 million people and one of the three major Internet hubs within China along with Shanghai and Beijing. Starting in Guangzhou, we plan to rapidly expand throughout China," Chen continued. According to the China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) (Simplified Chinese: 中国证券监督管理委员会; Pinyin: , China has over 44 million people active in securities trading in the Shenzhen and Shanghai stock exchanges Shanghai Stock Exchange One of two major securities markets in China. at the end of 1999. Internet stock services is expected to be one of the fastest growing industry with number of Internet subscribers expected to double from 8.9 million last year to nearly 20 million in year 2000, based on statistic published by China Network Information Center. About Internet Corporation Internet Corporation, a Cayman Islands company, is headquartered in Fremont, Calif. China E-Commerce Technologies Co. Ltd. (CECT), a wholly owned subsidiary of Internet Corporation, provides Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP) subscription services and application services for online banking, stock brokerages and e-commerce merchants in China. CECT is the first portal that provides a secured online payment linking service for television-based Internet Appliance. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion