Hong Kong, September 14, 2000
Internet infrastructure project enables e-commerce to support trade and information-related demands from PNTR
— chinadotcom corporation (NASDAQ: CHINA; Website: www.corp.china.com), the leading pan-Asian integrated Internet company, today announced that its subsidiary, Beijing Digital Ark, has formed a strategic alliance with state-owned China Digital Library, the largest library in Asia, to provide it with a Digital Library System. Upon deployment, the Digital Library System will link up China's libraries and their archives across the nation and vastly increase the amount of stored knowledge accessible to the public over the Internet. The Chinese government is expected to be a major user of the digital system, in order to improve official communications efficiency and to facilitate better informed decision making.
The Digital Library System is a sophisticated technology platform that will facilitate multi-media information processing, storage, search and distribution, and will enable the collection, storage and processing of high-value content such as software and scientific data, as well as pictures, graphics, audio and video. Inter-network communication is also possible with storage and quick retrieval of information from databases across LANs.
In July, chinadotcom announced the creation of a business-to-business Application Service Provider (B2B-ASP) strategic 50/50 joint venture with CCIDNet.com, a unit under the auspices of the Chinese government's Ministry of Information Industry (MII), to develop B2B e-Commerce facilities, enabling businesses throughout China to perform online transactions. Today's agreement, with the state-owned China Digital Library, is chinadotcom's second national level Internet initiative in China. The alliance reinforces chinadotcom's leading position in Internet-based digital technology and its commitment to improve economic and social conditions and to help the Chinese government by developing the Internet industry in China.
Peter Yip, Chief Executive Officer of chinadotcom corporation, said, "We are proud to have been selected by The China Digital Library as the exclusive systems and solutions provider for its digital project. This world-class national software infrastructure project is a sign of the depth and breadth of our operations in China, which includes our interactive advertising and portal networks as well as our growing e-business solutions group. Computerization and digitization of information is a great improvement by making Chinese culture, science and technology accessible to all. We believe that the digital platform for the library can also be used for information processing and e-commerce. For example, financial institutions that require a great deal of documentation such as commercial banks, insurance companies and brokerage firms will likely come to depend upon this system. This technological breakthrough in information archiving should accelerate e-commerce development in China, particularly after China enters the WTO. With the expected passage of PNTR, any increase in international trade will bring with it increased demand for the type of information efficiently provided by the Digital Library System. This is a win/win situation for China and chinadotcom."
The China Digital Library is the largest digital library in Asia, as measured by the number of books stored, accommodations and accessibility. It has 22 million books and significant amounts of audio / video materials and scientific data. Information on Chinese history, culture, education, science and technology, and recent economic data can be accessed online by Internet users all over the world through this system.
Xu Wen Bo, Deputy Minister of the Chinese Primary Culture Department, commented, "With the expected passage of PNTR, I am excited that we are one of the first state-owned enterprise to open up and be efficient in modernizing the library's technology platform. The establishment of the Digital Library is revolutionary and opens up a new channel for information archiving in China. We're confident that Beijing Digital Ark, backed by chinadotcom's impressive track record, will provide us with the best technological expertise."
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 network platform (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online marketing (24/7 Media Asia Limited).
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 offices in more than 10 markets, including Japan, Korea, Australia, China, Hong Kong, Taiwan, Singapore, Thailand, Malaysia, and USA. For more information about chinadotcom corporation, please visit www.corp.china.com.
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