China.com Corporation Responds To The Chief Executive's Policy Address

Hong Kong, October 8, 1999 — China.com Corporation applauds the Chief Executive of the Hong Kong Special Administrative Region on the commitment of the Government to furthering education on technology in Hong Kong. Formal education is truly a critical aspect of encouraging Internet use and will be a key factor in the local community's realization of the enhancements that the Internet can bring to communication, information and entertainment.

While China.com Corporation is encouraged by these statements, we also hope to see continued commitment to implementing the plans laid out in last year's policy address. At that time, the Chief Executive outlined his view of the value of technology in re-building the local economy and in increasing Hong Kong's regional and global competitiveness.

China.com Corporation believes that the Hong Kong SAR Government is already heading in the right direction by: encouraging technological innovation; integrating broadcasting, telecommunication and IT into one department; and setting up the applied research fund.

China.com Corporation strongly believes that this momentum must be maintained and is willing to support the Government in any way that will help Hong Kong reach its goals of becoming the regional hub for innovation and technology.

In particular, and as stated publicly on previous occasions, China.com Corporation believes that a senior Internet advisor to the Hong Kong SAR Government is needed to ensure that Hong Kong emerges from the recession as the leader in Asian Internet and e-commerce development. China.com Corporation believes that one of the reasons that the United States has led the way in Internet development has been due to the very early appointment in the Clinton administration of a Senior Advisor to the President on Internet policy.

A key role of this individual would be to sell Hong Kong as a world-class Internet centre, to attract world class Internet companies to invest in Hong Kong and to bring with them their technology and expertise.

China.com Corporation itself has demonstrated the great value of attracting foreign investment to support the creation of local jobs, of developing skills and of highlighting Hong Kong's increasing role as an Internet centre. In less than a year, China.com Corporation has created 650 new jobs in Hong Kong and across the Asian region.

The senior Internet advisor will have to lobby hard for funding for training and for research and development.

Of equal importance, the senior Internet advisor must work on developing Internet policy with regards to Mainland China. Without the support and very close co-operation with China for e-commerce and Internet research, Hong Kong's role in the digital world will be hindered.

China.com Corporation looks forward to working in close co-operation with The Hong Kong SAR Government on this and other related issues in order to strengthen Hong Kong's growing Internet industry.


About China.com Corporation

China.com Corporation [NASDAQ: CHINA] is a comprehensive, pan-Asian, integrated Internet business providing a full range of solutions that build, distribute and sell Internet services in Asia. China.com Corporation has a strong and innovative Internet-based business strategy which covers the full range of Internet services with its portal network (hongkong.com, china.com, cww.com and taiwan.com), e-business solutions company (The Web Connection) and Internet advertising network (24/7 Media Asia). Today, China.com Corporation is committed to facilitating the development of the Internet in Asia, and has over 650 employees in twelve offices across seven Asian countries.

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