BIZCHINA / Overseas Investment
CITIC 21CN to have store desks
By Lillian Liu (China Daily HK)
Updated: 2006-07-04 15:36
Telecom and property investment firm CITIC 21CN Co will set up about
5,000 consumer service terminals in 200 department stores in 100 mainland
cities with Beijing Oracle Software System Co's technological support.
The move is aimed at giving consumers free access to information on
various commodities, CITIC 21CN said yesterday.
It declined to specify the investment involved though, only saying that
each device would cost between 3,000 and 10,000 yuan.
"It is very hard to predict the precise sum of investment now. Each
terminal device would cost us some 3,000 to 10,000 yuan, and the type of
devices could be several and depended on the kind of department stores.
Moreover, we don't know yet how long it will take to install all those
machines," CITIC 21CN chief financial officer Allen Mak said.
Hoping to cash in on the mainland's rapid economic growth, the Chinese
arm of Oracle the world's leading database management service provider
Beijing Oracle Software Systems, said it would work with CITIC 21CN and
serve as a multi-lingual service desk to provide technical assistance.
The two companies yesterday signed a memorandum on strategic partnership
for business and technological cooperation on the mainland.
"This strategic partnership is a ground-breaking business opportunity
both for CITIC 21CN and Oracle in China. As the world's largest
enterprise software company, Oracle is delighted to become a strategic
partner of CITIC 21CN on the project and takes pride in (being able
to)... bring greater business opportunities," Oracles's China and Asia
division vice-president of technology business Stantley Chew said.
CITIC 21CN vice-chairwoman Amy Chen said: "This strategic partnership
with Oracle will indeed contribute to the long-term working benefits of
CITIC 21CN. At present, many outstanding corporations are actively
seeking our services and engaging in some preparation work."
The Hong Kong-listed CITIC 21CN teamed up with a home partner in May to
provide digital television service in North China's Hebei Province.
The joint venture, with CITIC 21CN holding 49 per cent stakes and Hebei
Board of Radio and Television the rest, has a registered capital of 100
million yuan (US$12.5 million) and is the only system builder and service
provider for digital television in the province.
(For more biz stories, please visit Industry Updates)
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