Hong Kong, August 2, 2000
Asia's leading Internet company to present OpportunityAsia with TIME, Asiaweek and FORTUNE as sponsors
— chinadotcom corporation today announced that it is to host a series of international forums based around the theme of monetizing the Internet in Asia, named OpportunityAsia. To be held in Hong Kong, San Francisco and New York on September 19th, 26th and 28th respectively, chinadotcom will present, with TIME, Asiaweek and FORTUNE as sponsors, a platform for those within and outside the industry focused on putting the Internet to work for the benefit of Asia's economies.
Following five years of pioneering Internet forums in China, chinadotcom is taking its experience in bringing the Internet-related communities of Asia together onto a global stage.
"The Internet in Asia is at a critical juncture of its development. On the one hand there are huge opportunities ahead, on the other there are significant financial, operational, cultural and geographical barriers to realising these opportunities. OpportunityAsia is a series of forums designed by people in the industry for people associated with the industry in this region. In order for successful online businesses to be established for the long-term we must collectively build the industry. Governments, Internet companies, traditional corporations and financial institutions must all look beyond their own personal gain to the role that they can play in building the firm foundations for the industry from which everyone will benefit. That's what OpportunityAsia is focused on," said Dr. Raymond Ch'ien, Chairman of chinadotcom corporation.
OpportunityAsia will feature contributions from those people who have been actively involved in the Internet industry in Asia as it has established itself as the world's fastest growing Internet market. The emphasis for the forums will be on interaction and debate to get to the heart of how to monetize the Internet in the region at a time when the points of entry and paths to success are becoming more complex. Topics to inspire open and forthright debate will include:
- as global capital markets eye the Internet industry with increased scepticism, what alternative channels are there for Asian Internet companies to raise funds
- despite its huge population of over 3 billion people, there are major barriers to growth, such as outdated payment systems, infrastructure limitations and cultural and linguistic differences - how will these be overcome to maximize the region's Internet potential
- with limited Internet penetration and major infrastructural barriers, Asian Internet companies need to be focused on building the Internet industry as a whole as much as their own businesses. How can successful companies balance these dual responsibilities on the path to profitability.
Continued Dr. Ch'ien, "Being an early mover and beneficiary of the Asian Internet economy, we would like to help make the pie grow bigger for everyone. We see OpportunityAsia as our opportunity to create a platform for those people and institutions who wish to contribute to and benefit from the Asian Internet boom as it realizes its full potential over the coming years. We are delighted to have been joined by our media sponsors, TIME, Asiaweek and FORTUNE, who will add tremendous value, both to the events themselves and the communication of the events to a global audience."
"Sponsoring OpportunityAsia is a perfect fit with Time Inc. Asia's commitment to providing world-class technology coverage," said Andrew Butcher, Publisher, TIME Asia and FORTUNE Asia. "The rise of the Internet in Asia has become one of the region's biggest stories and we are delighted to be associated with chinadotcom corporation to explore and discuss in detail the many issues that our journalists focus on every week," adds Butcher.
Attendance at the day-long forums - to be held at Hong Kong's Convention and Exhibition Centre, The Sony Metreon in San Francisco and The Digital Sandbox, close to Wall Street in New York - will be by invitation.
In its inaugural year, this dynamic interactive forum brings together New and Old Economy business leaders to share, learn and discuss how businesses in Asia are using the Internet profitably in today's turbulent marketplace.
Following the euphoric financial market of 1999, the global Internet economy has become cautiously critical and favors only those companies with long term viability. Creating and sustaining value from the Internet in Asia is vital to the success of both New and Old Economy businesses alike.
OpportunityAsia is your window on the unlimited and untapped potential that is the Internet in Asia.
More information about the forums can be found at www.opportunityasia.net
About chinadotcom corporation
chinadotcom corporation (NASDAQ: CHINA) is a leading pan-Asian integrated Internet company offering web solutions, portal and online advertising services. Through its three business units, chinadotcom provides a full range of Internet services around the Asia Pacific region that; 1) build e-business strategies and solutions (Web Connection), 2) distribute content via its portal platform (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online marketing (24/7 Media Asia).
Fuelling the growth of each of these three business units is a synergistic investment strategy that leverages on chinadotcom's existing operational and cost infrastructure.
By partnering with companies that have proven and successful track records, such as America Online, Softbank, Trans Cosmos and Agence France Presse, chinadotcom is well-positioned to create long term shareholder value through its investments.
The company has 28 offices across more than 10 markets, including Japan, Korea, Australia, Hong Kong, Taiwan, Singapore, Thailand, Malaysia, and USA. For more information about chinadotcom corporation, please visit www.corp.china.com.
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