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.
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