CyberChina Program Sponsored by CBQ Highlights Support Chinese Software Development Efforts by the Government of China.Business Editors/High Technology Writers HUNT VALLEY, Md.--(BUSINESS WIRE)--May 29, 2001 CBQ See traffic engineering methods. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBQI), The E-Business Infrastructure Company, sponsored a very successful and well attended conference on CyberChina: Prospects and Opportunities on Wednesday, May 16, 2001, which addressed the current situation in China for software outsourcing, B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Internet, and IT-related intellectual property rights. With over 60 companies such as Verizon, US China Industrial Exchange, Inc., Deloitte Touche LLP LLP - Lower Layer Protocol in attendance, CBQ was afforded a wide forum to explain the use of its resources in China to service U.S. clients. The conference was such a success that CBQ has agreed with the Maryland China Business Council to sponsor another conference on CyberChina on Wednesday, November 7, 2001. The November conference will be a one-day event one-day event a contraction of the three-day event but like that contest is aimed at selecting the best all-round horse and rider. The events usually contested are show-jumping, dressage and cross-country. , to be carried out in conjunction with The Johns Hopkins University Johns Hopkins University, mainly at Baltimore, Md. Johns Hopkins in 1867 had a group of his associates incorporated as the trustees of a university and a hospital, endowing each with $3.5 million. Daniel C. and local technology councils in the Washington, D.C. area. Wei Sun, President of CBQ's subsidiary EasySoft International, which produces software in its Beijing, China, and Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. , offices for U.S. customers, gave a general summary of how the private sector in China is developing in the software area. Xiaoming Jin, Minister-Counsellor for Science and Technology, Embassy of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China in Washington, D.C., said that the software development industry in China is poised for "explosive growth," and that new policies were being implemented to support the export of software development services from China by companies such as CBQ to foreign markets such as the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . He said that China first developed its hardware infrastructure, and was now going to promote its software development sector as well. He cited new preferential tax, fiscal and governmental lines of credit policies that the Government of China is implementing to support its software industry. Lauren Hall, Executive Vice President, Software & Information Industry Association, reported on the outcome of her association's mission to China in April. She reported that over $60 million in deals were inked during the mission, and that U.S. companies are extremely interested in obtaining access to the lucrative Chinese software development market. The combination of lower costs in China and a dynamically growing market is attracting many U.S. companies, she said. Ms. Hall added that China is well on its way to becoming a global superpower in the Information Technology field, with an economy that is two-and-one-half times that of India, and exports six times the IT goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. that India sells abroad. With China set to invest $5 billion internally in software spending, 125 million telephone lines (compared to India's 30 million), 70 million mobile phone users (compared to India's 2.5 million), and 22 million Internet subscribers (compared to India's 1.5 million), China is poised to leapfrog India as an information superpower, she said. Bart S. Fisher, Chairman of CBQ, was the moderator for the CyberChina panel discussion. He reaffirmed the intention of CBQ to take full advantage of the high quality, low cost resources that China has to offer in the software area. About CBQ, Inc. CBQ, Inc. is a full service, end-to-end e-Business solution provider, which provides software-outsourcing through its subsidiary EasySoft International Inc., Beijing, China and Miami, FL; provides technology and network Integration engineering services through its subsidiary Networkland, Rosslyn, Virginia Rosslyn is an unincorporated area located in the northeastern corner of Arlington County, Virginia, north of Arlington National Cemetery and directly across the Potomac River from Georgetown in Washington, D.C. ; provides software programming and development though its subsidiary Technet Computer Services, Inc., India and Tyson's Corner, Virginia; and provides network integration though its subsidiary, CBQ NETSERV, Hunt Valley, MD. For more information on CBQ, Inc., visit http://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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