Leading Chinese Publication Highlights Growth Opportunity in Beijing for China World Trade Corp.; World Trade Center Club Beijing Expected to Have Over 500 Members by Year-end.
TIANHE, Guangzhou, China--(BUSINESS WIRE)--June 4, 2004
China World Trade Corp. (OTCBB:CWTD) announced today that it was featured in Beijing Weekend, a leading Chinese newspaper. The article focuses on the Company's recent entrance into Beijing, where it opened a club last month. The World Trade Center Club Beijing, which is located in the business district of the Landmark Towers, offers many exclusive services to the Company's rapidly growing membership base. The Club, which is located on 1,100 square metres occupying the entire second floor, also provides conference and office facilities, business service for members and draws from many of the exclusive services in the dining and hospitality area offered in conjunction with the hotel where it is located. The Club, which has a current occupancy rate of 35%, is expected to be full by the end of September.
"The Club is expected to recruit at least 500 members by the end of this year," according to the article. "The Club will start from the foreign business community in town before expanding to State-owned firms and private companies as its members."
The article cites China World Trade's success in developing its membership base from its first location, in Guangzhou, where the World Trade Center Club opened in 2002. According to the article, "With a membership fee of 50,000 yuan (US$6,000), the club is ideal for a large number of small and medium-sized firms planning to expand in foreign markets and foreign firms seeking a good understanding of the Chinese market."
China World Trade's clients benefit from the broad array of services the Company offers. According to the story, a shoe manufacturer in Guangzhou provides as an example of what the club can do for members. The businesswoman, who failed on a number of occasions to find a partner in Italy was introduced by the club to an Italian shoe manufacturing association. She soon found a suitable partner and was happy to join the club after her return from Europe. According to the article, she might have spent ten times more in seeking an opportunity in Italy than the membership fee she paid.
The article noted that the Company plans to open additional WTC clubs in Shanghai and Xi'an in the near future, with the groundwork now being laid in Shenzhen, Xiamen and Changsha. China World Trade Corp. has also expanded the services it offers, recently launching a program to offer credit cards in the Guangdong Province in conjunction with the Agricultural Bank of China, one of the country's largest financial institutions. The Beijing credit card is expected to be launched later this year.
"We believe the exposure generated from this article and other activities to raise our profile in the Beijing and Guangzhou areas will lead to a rapid increase in membership," said John Hui, Chief Executive Officer of China World Trade Corporation. "Already, we are seeing great interest in our WTC KinsCard, one of the first credit cards in China that allows its card holders to spend in foreign currency outside of China and settle their account in RMB. We remain excited by the prospects for growth."
The entire text of the article is available at http://www.chinawtc.com/new_main/bj_news.asp.
About Agriculture Bank of China:
Headquartered in Beijing, Agriculture Bank of China (ABC) is among the largest of the four state-owned commercial banks in China. As of June 2001, ABC had a total asset value of RMB 2300 Billion (US$277.78 Billion) with deposits of nearly RMB 2000 Billion (US$241.55 Billion). By the end of 2003, ABC had over 50,000 branches and sub-branches nationwide, 931 of which being capable of handling foreign exchange transactions. ABC has an established agency business with 328 banks in 49 countries and regions. It also has branches in Hong Kong, Singapore and representative offices in London, Tokyo and New York.
About China World Trade Corporation:
China World Trade Corporation is an official operator of World Trade Centers in China, in association with The World Trade Centers Association (WTCA, www.wtca.org) and offers an enormous variety of services for businesses and industries seeking to do business in China. China World Trade Corporation is uniquely positioned and highly qualified to capture the opportunities created in this historical period, and is an effective gateway to the tremendous economic growth between China and the world.
For further information, contact Ed Lewis, CEOcast, Inc. for China World Trade Corporation at (212) 732-4300.
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|Date:||Jun 4, 2004|
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