BEIJING, Sept. 14, 2010 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. ("ChinaNet"), (Nasdaq:CNET), a leading full-service media development, and internet technology company for small and medium-sized enterprises (SMEs) in the People's Republic of China ("China"), today announced that the Company will participate in the 2010 Taipei International Chain and Franchise Autumn Exhibition to be held September 17 - 20 at the World Trade Exhibition Centre in Taipei, Taiwan.
"Our attendance at the Exhibition marks our strategic expansion into Taiwan, and is part of our overall strategy to attract foreign franchises to China through our flagship franchise gateway and marketing platform, 28.com," stated Mr. Handong Cheng, Chairman and CEO of the Company. "With our rich promotion experience and understanding of the China domestic market, along with new premium services we have added to our product portfolio, including brand management and search engine marketing, ChinaNet will help to facilitate the expansion of Taiwanese franchise enterprises in China."
The Exhibition, hosted by the Taiwan Chain and Franchise Association, is the largest franchise business exhibition in Asia with over two hundred brands in attendance. ChinaNet has built an Internet media reporting platform on 28.com for the event. A professional editorial and TV production team will be sent to Taiwan for reporting.
ChinaNet will initially offer a series of premium brand services to franchise owners in Taiwan by adding at least 5 initial customers.
Timing for the expansion was aided in part by the signing of the Economic Cooperation Framework Agreement (ECFA) between mainland China and Taiwan in June, which aims to reduce tariffs and commercial barriers between the two sides. ChinaNet has taken the lead to represent the franchise marketing and promotion business for SME's in Taiwan, and hopes to strengthen the communication between Taiwan and mainland China, promoting the development of both sides and facilitating cross-strait economic cooperation. The Company will share more detailed plans regarding its expansion into Taiwan later this year.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading full-service media development, and internet technology company providing online advertising and brand management solutions for small and medium-sized enterprises (SMEs) n China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal website 28.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com .
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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