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Haihong and Disney Cooperate in China's Internet Market
The Walt Disney Internet Group and Hainan Haihong Enterprise (Holding) Co., Ltd. March 8 announced that they had reached an agreement on strategic cooperative relationship for jointly developing China's Internet market.
Kang Jian, president of the Hainan Haihong Enterprise (Holding) Co., Ltd. said they are glad to have the chance to introduce Disney's high-quality Internet products into China and they believe this cooperation will create a new win-win model for international Internet cooperation and greatly boost China's Internet development.
It is reported that this cooperation will not affect the stock rights of both sides for it is conducted not in the form of investment, but a trademark authorization. During the three-year agreement time, Haihong will pay Disney a symbolic permission fee for using Disney's brand name.
(Background: Hainan Haihong Enterprise (Holding) Co., Ltd. was established in 1986 and listed in Shenzhen Stock Exchange with the A-Share stock code of 0503 in 1992. Its main businesses include Internet, asset management, energy resources investment, chemical fiber, import and export trade, materials distribution and what not. China Telecom is one of its principal shareholders.)
By PD Online Staff Member Huang Ying
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