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IBM teams up with Shum Yip
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Yang Yunfei
US information technology heavyweight International Business Machines Corp announced yesterday that it has entered into an agreement with the Shum Yip Group to develop electronic commerce in Shenzhen.
Under the terms of the agreement, a total of 1,000 Internet-based multimedia stations are expected to be set up in the coming eight months, with IBM providing the technological support and Shum Yip ponying up most of the estimated 150 million yuan (US$18m) investment.
As the initial phase of the deal, 100-odd multimedia stations were being set up and operated by Shenzhen City E-Commerce Co Ltd yesterday.
IBM and Shum Yip agreed that they would expand their business into other cities of the country "step by step".
Billed as advanced e-commerce and public information platforms, the multimedia stations are based on the fast-developing Internet and can offer integrated information service centres by combining the city's thousands of terminals connecting residential areas, commercial centres, financial institutions and hotels.
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