Palm Commerce Information Technology (China) Co.,Ltd Lands in TEDA

Palm Commerce Information Technology (China) Co.,Ltd Lands in TEDA

June 02, 2006

    TIANJIN, China, June 2 /Xinhua-PRNewswire/ -- Tianjin
Economic and Technological Development Area (TEDA)
announced that Palm Commerce Information Technology (China)
Co.,Ltd was incorporated in TEDA on June 2.  The initial
investment of the company is USD30 million, which is
projected to reach USD150 million in the next five years
making it the biggest software enterprise in Tianjin.

    The current business scope of the company is mainly
focusing on development and provision of lottery-related
software and package technical solutions and offering
integrated online transaction disposal solutions, products
and services for government lottery authorities and
companies with relevant authorization.  Now the company has
developed software suitable for computer and mobile phone
terminals of the National Computer Welfare Lottery system
and has provided complete software, systems, terminals and
mobile solutions to more than 13 provinces, municipalities
directly under the central government and autonomous
regions.  Up to now, its products have occupied over 40% of
the National Welfare Computer Lottery market and its shares
of the mobile phone lottery market exceeds 50%, ranking the
first in terms of both the market shares and number of
users.  After establishing itself in TEDA, the company
hopes to continue to expand the Chinese and Asian markets.


    About Tianjin Economic-Technological Development Area
(TEDA)

    Tianjin Economic-Technological Development Area (TEDA)
was established in 1984 with the approval of the State
Council of the People's Republic of China.  It is one of
the first state-class economic-technological development
areas in the country. 

    TEDA is located in the center of a larger area
bordering Bohai Sea and the east of the Asia-Europe Land
Bridge, thus serving as the gate to the two super cities of
Beijing and Tianjin, and the throat connecting the northeast
of China.  By the end of 2005, 4,067 foreign companies have
landed in TEDA.  Of the Fortune 500 companies, 57
multinational companies, from 10 countries and regions,
including such well-established multinational giants as
Motorola, Samsung and Toyota, invested in 123 enterprises
in TEDA.  In 2000, "Fortune" listed TEDA as one
of the most highly recommended economic areas in China.  In
2002 UNIDO listed TEDA as one of the most dynamic areas of
China together with Shenzhen, Suzhou, Wenzhou, Shanghai
Pudong and Xi'an High-tech Park.

    For more information, please contact:

     Ding Lei
     Tel:   [phone] 

     Xu Hui
     Tel:   [phone]

     Web:   http://www.investteda.org 

SOURCE  Tianjin Economic-Technological Development Area