Beijing-based B2B media company HC International announced the formation of a joint venture (JV) with Digital China, to provide micro-credit internet financing services.
Subject to the approval and the obtaining of necessary permissions from relevant Chinese authorities, the JV will be 60% owned by Digital China and 40% by HC International. Pursuant to the Joint Venture Agreement, the total registered capital of the Joint Venture Company shall be RMB1,000,000,000, of which RMB600,000,000 will be contributed by the Company in cash and RMB400,000,000 will be contributed by HC International. The Company will make its capital contributions in two phases: RMB225,000,000 in the first phase and RMB375,000,000 in the second phase.
About: Digital China Holdings Limited (“Digital China” or the “Group”; Stock Code: 00861.HK) is the largest integrated IT services provider in the Greater China area. Digital China provides end-to-end integrated IT services for customers on the back of a complete IT services value chain that covers IT planning and consultation, IT infrastructure system integration, design and implementation of solutions, design and development of application software, outsourcing of IT system operations and maintenance, IT distribution and maintenance, etc.
Source: Business Strategies Group Hong Kong – www.bsgasia.com