Even more important, Williams said, is that Oracle's long-standing presence in China has given the company the perspective it needs to provide Chinese enterprises with the appropriate strategies. ``As China embraces globalization, and opens its market to global competition, Oracle will help businesses adapt appropriately to achieve growth and return-on-investment, by creating software solutions and services that cater to the unique needs of local enterprises. In fact, these local enterprises have indicated to us already that they are keen to achieve e-business transformation, while reducing cost and complexity,'' said Mr. Williams. ``To that end, we will develop Internet-based products and services specifically for our Chinese customers, which will allow them to quickly deploy cutting-edge technology and at the same time, lower their operational costs by leveraging Oracle's online services.''

The Oracle China Development Center will be comprised of five major focus areas, including product development, laboratories, a product knowledge center, a customer center, and development services:

• Project Development -- focused on enhancing Oracle's China-specific services and expanding ability to implement large, complex national projects.
  
• Laboratories -- focused on acceleration of technology adoption rate and providing excellent showcase for solutions jointly developed with Oracle's partners.
  
• Product Knowledge Center and Connected Customer Center -- focused on a fully featured infrastructure for knowledge transfer and enhanced customer service offerings.
  
• Development Services -- focused on rapid porting, certification, testing, localization and language translation of Oracle's products.
  

In addition, to support China's nationwide mobile network expansion, Oracle has already commenced work on a mobile commerce infrastructure and plans to establish a validation laboratory for 3G. The organization will develop parts of the Oracle9iAS mobile applications studio at the Oracle China Development Center, and will set up laboratories to validate mobile devices that are specifically produced for the China market. A special team will be created at the Oracle China Development Center to focus on scalability needs of the telecom network infrastructure in China, with a complete test-to-scale facility. Oracle will work closely with network equipment manufacturers and national operators, assisting them in employing advanced features of the database such as Real Application Clusters to support what experts expect to be the largest mobile network in the world.

Oracle has operated in China for more than ten years and has built a strong customer base including such well-known Chinese enterprises as AsiaInfo, Beijing Founder Electronics, Beijing Da Tang Power Generation, China Banknote Printing & Minting Corporation, China Southern Airlines, Chengde Iron and Steel Company, GuangZhou Metro Corporation, HangZhou Motorola, Shanghai Hitachi and Xiang Tan Steel Corp.

SOURCE: Oracle Corporation

According to the agreement signed by both sides, eBay has the right to expand its holdings in EachNet.

"The strategic alliance between EachNet and eBay will further consolidate our leading role in the country's burgeoning e-commerce industry," said Shao Yibo, chief executive of EachNet.

Founded in 1999, EachNet has recruited 3.5 million registered users.

Although the development of the Internet in China has skyrocketed, business orientated portals have had a difficult time generating revenue.

But eBay has made success with its auction model in the United States and has been expanding abroad.

In January eBay reported a fourth-quarter net profit of US$25.9 million and expects revenue for the first half of 2002 to be between US$490 and US$510 million.

Deal important for eBay to build global marketplace

"The deal with EachNet is an important step forward in eBay's strategy to build a truly global marketplace," said eBay Chief Executive and President Meg Whitman.

She said in a statement that e-commerce revenue in China is expected to grow nearly 12 fold to more than US$16 billion over the next three to four years.

Lu Benfu, director of China Internet Development Centre, believes that the move is an experiment for eBay to expand its market into China.

He said China still has a long way to go for Chinese e-commerce to be really global.

Statistics from the China National Network Information Centre showed that China's Internet users had topped 33.7 million by the end of last year, up 49.8 per cent over the same period last year.

It also showed that there were 10.65 million people purchasing items online, accounting for 31.6 per cent of total Internet users. The satisfactory rate for online trading has also shot up from 27.72 per cent in 2000 to 38.3 per cent last year.

Source: People's Daily

Sanford I. Weill, board chairman and CEO of Citigroup Inc., was in Shanghai on Thursday and personally opened a foreign currency account for the first Chinese individual client, the founder and CEO of a famous Chinese Internet company.

On the same day, Citibank's Shanghai Branch inaugurated a sub-branch in Shanghai. It plans to open another in the city in April. "This is a momentous step in the liberalization of the Chinese banking and financial market," said Sanford I. Weill at the opening ceramony.

Over the next few months, Citibank's branches in Beijing, Guangzhou and Shenzhen will also begin to offer all-around foreign-currency services to Chinese citizens and businesses.

Foreign banks eager to enter Chinese market
Prior to the move, the Xiamen International Bank -- a Sino-foreign joint banking company -- became the first foreign invested bank to get approval to take Chinese clients when it was licensed earlier this month to conduct foreign currency business with domestic clients.

Earlier rumours said the group is in discussion with the Shanghai-based Bank of Communications and Pudong Development Bank -- China's largest listed bank -- for a stake takeover, but the company did not make any comment on Thursday.

In December, Hongkong and Shanghai Banking Corp (HSBC) bought 8 per cent stake in the Bank of Shanghai, becoming the first overseas bank to take a stake in a mainland bank.

Foreign banks were previously restricted to dealing with non-Chinese citizens and overseas-funded companies. However, they are still not allowed to offer services in renminbi to domestic customers.

Overseas giants like Citibank have been anxiously waiting for the gradual opening of China's sheltered financial sector, hoping to tap US$82 billion of personal foreign currency savings and, eventually, US$1.5 trillion-equivalent in yuan savings.

Analysts said a key step of opening will be when permission is granted to foreign banks to conduct yuan-denominated business with Chinese companies two years after the country's WTO entry last December and with Chinese individuals five years later.

As part of its commitment to the WTO, China pledged to allow overseas banks to conduct foreign currency transaction services to local Chinese individuals and corporate customers.

General Manager of Citibank Shanghai Branch Huang Xiaoguang said the bank will focus on a customer-base with higher income.

Receiving more than 100 inquiry phone calls from local residents on Wednesday following the news the bank would serve Chinese customers, Linda Wong - head of Citibank China's consumer bank business - sees a rosy prospect for the new business.

"We hope to move on to cities like Beijing, Guangzhou and Shenzhen," she said.

Earlier last week, Dai Xianglong, governor of China's central People's Bank of China (PBOC), said there is no legal hurdles for foreign banks to apply for licences to develop foreign currency business in China.

According to PBOC's Shanghai office, besides Citibank, more than 10 overseas financial institutions have submitted applications to the central bank for providing Chinese customers with forex services. They include HSBC and the Hong Kong-based Bank of East Asia. Other overseas banks, such as Standard Chartered Bank, Credit Agricole Indosuez, Oversea-Chinese Banking Corp and Heng Seng Bank, are also preparing to do new business.

HSBC filed documents in February for the go-ahead for similar business lines in four Chinese cities, namely Beijing, Shanghai, Guangzhou and Shenzhen.

"What we are doing now is making some preparations for the opening of these operations, such as staff trainings," said Dandan Chang, spokeswomen for the bank.

"I believe we can get the approval in the very near future," said Zhang.

Source: People's Daily

Airbus wants to work with Chinese airlines and authorities not only in selling aircraft but also working with China's aviation industry, citing the production of wings of Airbus 320 in China.

China to Be Second Largest Market in the World

"We see China over will be the second largest market in the world after the United States over the next 20 years and Airbus in China should obtain at least 50 percent of its market share as same as Airbus aims in the rest of the world," Guy Mcleod, President of Airbus Industries China Limited, said in an interview during the Asian Aerospace 2002 ongoing in Singapore.

"When we looked at its leadership and stabilizing influences on Asia and the whole world during the Asian crisis and today, we can see the country is large and progressing very steadily," he emphasized.

Cooperation and Efforts to Promote Selling

First Airbus airliner arrived in China in 1985. Now there are over 100 Airbus airliners in operation in China, though less than the Boeing-made airliners.

Mcleod said that Airbus wants to work with Chinese airlines and authorities not only in selling aircraft but also working with China's aviation industry, citing the production of wings of Airbus 320 in China.

Increase of Market Share

Noting Airbus 320 is a family of fast selling, he claimed that what Airbus has invested and is moving to China is not old aircraft and parts but products of success and sophisticated wings.

On efforts Airbus is going to make to increase its market share in China, Mcleod said that Airbus will expand its customer ranks and work with authorities and industries, saying Airbus will continue to convince authorities, potential customers and industries what benefits Airbus can bring to them under the macro level of China.

Help to Chinese Managers

He said Airbus will reach to every level of the Chinese market and make efforts to increase Airbus fleets of existing customers, to attract potential customers to use Airbus aircraft, to hold seminars to help Chinese managers, to assist in training personnel, and to produce spare parts in China.

"We are working very successfully with Chinese authorities on training of engineers, pilots and support centers," he said, adding "We really see ourselves committed to Chinese aviation industry of every level."

Cooperation and Tech Transfer to China's Aviation Industry

Mcleod also promised to work with China's Aviation industry and to transfer technology to its Chinese partners, saying "Airbus will work together with China's aviation industry so that China will be a true partner of Airbus not only for purchasing but also for production". He billed this as " industrial cooperation."

Commenting on China's aviation industry, Mcleod said that "You should be proud of your aviation industry which is developing in right direction," referring to commercialization in the restructuring of China's aviation industry.

On his work of seven years in China as representative of Airbus, Mcleod said that "We can understand the Chinese specific issues and where we can assist the Chinese aviation industry as it develops," underlining this is the key to success.

Source: People's Daily