Sina.com Plans to Move Financial Headquarters to ShanghaiMao told the journalist that they had once considered moving their financial headquarters to Hong Kong. Now the directorate prefers much more to Shanghai. They will finalize the decision by the yearend and set matters concerned about in early next year.
Cooperation Between Shanghai & Beijing to Be FurtheredFinancial headquarters is one of the core departments of a listing company which assumes the responsibility of internal financial management, financial data support, budget program decision and cash management.
Sina's other core departments, sales and development departments, etc, will also strengthen the interactive activities between Shanghai and Sina's headquarters in Beijing.
Shanghai Has AdvantagesMao said that Shanghai has become a hub for headquarters of domestic enterprises. Besides, more and more transnational companies in Asia-Pacific region moved their headquarters to Shanghai. Sina.com may become their online cooperative partner. In addition, domestic demand should not be underestimated, either. Sina will focus on the market of consumer goods and financial and insurance industry in Shanghai so as to provide capital to its online advertisement and pay services.
Sina-Sun Cooperation InfluencialMoreover, the recent cooperation between Sina.com and SUN-TV Cybernetworks Ltd. may also be one of the important reasons for Sina.com to follow Sun-TV to Shanghai. Although Sina has more than half of its advertisement proportion in the domestic Internet advertisement market and it also developed 10,000 pay users in North America, it still has a long way to go to make a break even out of the deficit. Its cooperation with Sun-TV makes it see the promising perspectives in wide-band network business.
Among the major competitors of Sina.com, except for China.com which has its headquarters in Hong Kong, both Sohu.com and Netease set up their financial headquarters in Beijing.
By PD Online staff member Du Minghua
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