ChinaWeb and CITIC Announce Launch of New Online Comprehensive Trading Platform.Business Editors/Hi-Tech Writers BEIJING--(BUSINESS WIRE)--May 1, 2000 ChinaWeb Ltd., a leading provider of online bilingual financial news and information and e-commerce services announced today that its subsidiary Homeway and China International Trust and Investment Corporation( CITIC CITIC China International Trust and Investment Corporation ) - one of the most significant conglomerates and diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment institutions in China have jointly launched a platform for the trading of diversified financial instruments. Over 200 people from the relevant government departments, commercial banks, securities companies, investors and local presses attended the ceremony. Homeway's 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. software is called TOP, the Trading Online Platform. This comprehensive online platform, besides equity securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the , also supports other financial instruments to be implemented in the near future. ChinaWeb's Chairman and 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. Mr. Boming Wang noted "working with a sophisticated and aggressive firm such as CITIC has been a welcome challenge and has encouraged us to bring our TOP software to full realization at an early date. Everyone including the clients of brokerage houses benefits from the better service that can now be provided." Mr. Ju Weimin, Chief of Financial Department of CITIC stated "using TOP will allow CITIC clients to conduct online-trading more efficiently, effectively, actively and easily within the entire country, and we are proud of what we have achieved with Homeway in this business". Convenience of trading should lead time to increase liquidity in China's equity markets, and liquidity is the key to confidence in the markets. Further, the ability to conduct financial transactions over the Internet is now there for those who want it. "We think that providing and developing this enhanced connectivity is a good business plan for the future", Wang concluded. About ChinaWeb: ChinaWeb is a leading provider of online bilingual financial news and information and e-commerce services focusing on Greater China through its financial portals www.chinaweb.com and www.homeway.com.cn. ChinaWeb offers and is in the process of developing a variety of e-commerce products and services which enable our end-users to conduct a wide range of online financial and commercial transactions through its integrated financial portals with brokerage houses, banks and financial institutions. ChinaWeb's Homeway portal was selected in January by the National Internet Competition Survey as the best financial and securities website in China. Companies with which ChinaWeb has entered into business alliances include the Stock Exchange Executive Council (SEEC SEEC Sociedad Española de Estudios Clásicos (Spanish Society for Classical Studies) SEEC Stop Experimentation on & Exploitation of Chimpanzees SEEC Supported Employment Enterprise Corporation SEEC Synthesis Engineering Education Coalition ) - a Beijing-based organization that has been instrumental in the development of China's capital markets; China International Trust and Investment Corporation (CITIC) - China's largest diversified financial institution; Softbank Corporation - Japan's largest Internet investment group; The South China Morning Post The South China Morning Post, together with its Sunday edition, the Sunday Morning Post, is a English-language newspaper of Hong Kong, with a circulation of 104,000. (SCMP SCMP South China Morning Post SCMP Software Configuration Management Plan SCMP Society of Corporate Meeting Professionals SCMP Stream Control Message Protocol SCMP Soft Condensed Matter Physics SCMP Society of Company Meeting Planners ) - Hong Kong's largest English language English language, member of the West Germanic group of the Germanic subfamily of the Indo-European family of languages (see Germanic languages). Spoken by about 470 million people throughout the world, English is the official language of about 45 nations. newspaper; Talisman Capital - a leading US-based private technology investment firm; and the China Foreign Exchange Consulting Company, Central State Bond Registration and Clearance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (ChinaBond), and China Merchants Bank. About CITIC: CITIC is one of the most significant conglomerates and diversified financial institutions in China. Besides its fully operated services in commercial banking, securities business, financing activities, CITIC has investment in many industrial sectors such as energy, telecommunications, infrastructure, real estate, raw materials, machinery and aquatic farming. CITIC Securities, for example, is one of the top securities firms in China with branches operating all over the country. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion