Government-backed B2C Site to Launch in June

China Business News, 4/25/08

Zhengjiaweb.com, a B2C site jointly funded by the Ministry of Commerce's China International E-commerce Center, Guangzhou Zhengjia Networks and Guangzhou Zhengjia Square, is set to open for business in June. COO Lin Jianguo revealed that the entire project will take place over three stages, with total investment of RMB 1.6 bln. The first section of the first stage will see the launch of 20 channels, mainly retail of general merchandise. This will be followed up with six major channels - household, medical, pharmaceutical, personalized services, jewelry and insurance. All merchants will be required to have bricks and mortar outlets. The company will start operations in Guangzhou, but expand to cover all of China via branches in Beijing, Shanghai, Chengdu and Shenzhen. It will also work in the US and Europe. A NASDAQ listing is planned for between June 2009 and December 2012.

Keywords: Zhengjiaweb Guangzhou Zhengjia Networks Guangzhou Zhengjia Square Lin Jianguo B2C Beijing Chengdu e-commerce government Guangzhou International E-Commerce Center Internet Ministry of Commerce Shanghai Shenzhen

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