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China Sets up Software Giant
Four firms have formed China's largest software company Zhongguancun Software Group with a total investment of one billion yuan (about 120.7 million U.S. dollars), according to media reports.
The Beijing-based group will combine the technological ability of the four investors and focus on development of large scale application software in financial, security, transportation and management fields.
The giant was formed Friday by Beijing Centergate Technologies Co Ltd (Centek), Hong Kong listed Stone Group Corp; Beijing University Founder Group Corp and China Huajian Group Corp.
Centek, listed as Beijing Zhongguancun in the stock market, and Huajian affiliated with the Chinese Academy of Sciences, will control 40 percent of shares while Stone and Founder will hold 10 percent of shares each.
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