Western Union, China to Jointly Set up Intl. Electronic Exchange NetworkUS Western Union Company recently reached a cooperative agreement with China Postal Bureau and the Agricultural Bank of China (ABOC) on jointly setting up an international electronic exchange network in China.Western Union is subordinated to the American FDC Group, a corporation among the world top 500 enterprises. This 150-year-old Western Union is engaged mainly in international electronic transfer business. With advanced global computer network, it can safely finish international transfer services in several minutes with no need of credit cards or banking accounts. Moreover, clients can instantly cash by providing valid ID cards in any one of the service sites under the international network of Western Union. The company has currently set up more than 100,000 service sites in 185 countries and regions around the world. Western Union started to cooperate with China's Express Mail Service (EMS) in 1994. The second cooperation with China Postal organization will introduce its services to 256 sites of China Post distributed in Beijing and Shanghai municipalities, Fujian, Guangdong and Zhejiang provinces, etc.; meanwhile, Western Union will also open 260 sites through cooperating with ABOC. The number of the sites of the two units is expected to reach 1,500 by yearend and exceed 10,000 by 2003, According to the program, all of the 40,000-plus sites of China Post and 66,000 outlets of ABOC will finally provide international exchange services of the Western Union. By PD Online staff member Du Minghua |
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