Shanghai Attracts Overseas Mailorder CompaniesFast growing e-business in Shanghai has attracted an increasing number of multinational mail-order companies.To date four leading mail-order companies, Mecoxlane, Otto, Quelle, and Bertelsmann, have established their China headquarters in this city. These companies have all launched on-line services this year to tap the Chinese market. Mecoxlane, the first foreign mail-order company to open a subsidiary in China, now has 180,000 regular clients in this country. "The emerging e-business based on the Internet has provided the mail-order industry with rare opportunities for development," said Andrew T. Tsuei, president and CEO of Shanghai Mecoxlane International Mail-order Company. Shanghai has given priority to the development of e-business in recent years although only a small number of local enterprises are currently engaged in the area. Shanghai Vice Mayor Feng Guoqin estimated that e-business turnover in the city will increase to 20 billion yuan by 2005 from the present 500 million yuan. |
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