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China to Launch Large Auction Website
China will open a comprehensive website for on-line auctions of various commodities on July 7.
The website, www.mayala.com, is jointly established by more than 100 major auction houses in China, led by Hong Kong-based International Auction Network (China) Co., Ltd..
On the opening day, more than a dozen auctions will be held through the website.
Mayala has already established subsidiaries in the Republic of Korea, Malaysia, Thailand, and Singapore.
This year it will mainly concentrate on auctions of corporate shares, products by small and medium-sized enterprises, and corporate assets.
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