SHANGHAI, June 1 -- China has put government purchase information on a Website to improve the transparency of the buying process in the 300-billion-yuan (US$38-billion) market, the government-authorized business-to-business Invest China Website said yesterday. The Website (www.invest.china.cn) provides a multi-language service and allows foreign businesses access to more than one million Chinese government purchasing organizations and 100,000-plus investment projects. In 2006, Chinese government purchasing reached US$38 billion, about 40 percent of which was for foreign goods and services, according to government figures. Invest China also allows foreign and domestic firms to publish company or product information on it, which helps government officials' decision-making. Different from commercial B2B Websites like Alibaba, Invest China will become influential and authoritative e-commerce portals with a strong government background, said Tian Yucheng, a Website director. China's B2B trade volume reached 679 billion yuan in 2005 and is expected to hit 14.8 trillion yuan in 2010, according to iResearch, a Shanghai-based Internet research firm.
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