Archive Press Release
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ThomasNet.com
Release date: April 3, 2007
ThomasNetSM - Ninetowns Partnership Opens Doors for Chinese Companies to Market and Sell Worldwide
Alliance lets Chinese companies use leading publishing technology designed to tap expanding global web marketing
Beijing and New York, April 3, 2007 - Two industry leaders from across the world today announced an alliance to enable Chinese manufacturers and service businesses to publish detailed product and service information in customized, searchable catalogs online, allowing them to compete more effectively in the global market for goods and services across countless industry categories. The web-based catalog technology from ThomasNet allows Ninetowns' Chinese customers to publish their product and service capabilities catalogs on Ninetowns' B2B platform TooToo.com, as well as syndicate their online catalogs to be published by any of their trading partners worldwide.
The catalog publishing technology developed by ThomasNet and licensed by Ninetowns has already been deployed by more than 500 customers in the US and combines sophisticated catalog display and search capabilities that can easily be manipulated by individual customers while generating significant web marketing advantages.
Ninetowns, a publicly traded (NASDAQ:NINE) company headquartered in Beijing, is well positioned to help their current Chinese customers with their export oriented marketing efforts, since it is a natural extension of their import/export management software business which has already been deployed to more than 150,000 commercial users.
ThomasNet's VP of Business Development, Erik Mikisch, "Chinese manufacturers, like many U.S. companies, have not fully taken advantage of available technology to effectively market online to prospects and customers worldwide. For these Chinese companies to grow, it is critical to have detailed and meaningful information available to engage and connect with potential buyers 24/7."
Mikisch continues: "While we're still in the early stages in serving Chinese customers and their developing business requirements, we predict that their online presence will change dramatically over the next two years as buyers in China and around the world increase their reliance on the web as their primary sourcing tool for B2B products and services."
In the U.S., 9 out of 10 industrial buyers first start with the Internet to source. (1) This is rapidly spreading abroad as savvy industrial buyers expect to get detailed product and service content, pre-qualify suppliers, and initiate contact, all online.
"We expect that the availability of a detailed product and capabilities catalog online will significantly increase the number of qualified inquiries that we receive from abroad. We decided to deploy the Thomas solution based on its wide usage in the industrial market and expect to enhance our competitive advantage," said Mr. Liu Zhenyu, President of Shanghai Yi Yang Hardware Co. Ltd..
Ninetown's Chief Executive Officer, Wang Shuang has been working with ThomasNet to find the appropriate technology solution that would allow Chinese businesses to promote all of its products and services in an easy-to-use format online. Mr. Wang said, "ThomasNet has the perfect solution for Chinese manufacturers because it allows us to help a company build an online presence at a reasonable cost, in a relatively short time frame. Also, this catalog lives at the manufacturer's site and is central to all of the company's online marketing efforts," he added.
According to the Chinese government, there are 6,774,000 industrial businesses in China today. China's exports to the U.S. and other countries are continuing to grow. Global Insight, a (need to fill in what this is - to give credibility) reports that China's exports amounted to $594 billion in the U.S. in 2004, making it the world's fourth largest exporter, and its total value of import/export transactions reached $1,155 billion in 2004. The value of import/export transactions in China is expected to reach approximately $2.5 trillion in the U.S. by 2008.
According to Global Insight, "As China's import/export market expands; we expect there will be increasing demand from the enterprises for more cost-efficient and time-saving electronic processing methods, rather than the traditional paper-based filing."
Company Information: Name: ThomasNet.com Address: 5 Penn Plaza City: New York State: NY ZIP: 10001 Country: USA Phone: 212-629-1123 FAX: 973-674-3803 http://www.thomasnet.com
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