Pacificnet.Com Presents At U.S. Dept Of Commerce It Trade Mission To China - Government Activity

EDP Weekly's IT Monitor, April 9, 2001

Tony Tong, CEO of PacificNet.com (Nasdaq: PACT), spoke today at the U.S. Information Technology and e-Commerce Trade Mission to China organized by the Software & Information Industry Association (SIIA) and the U.S. Department of Commerce. Mr. Tong discussed the Company's experiences of doing business and localizing US technologies in the Hong Kong and China markets for the past two years.

The Trade Mission's goal is to gain first-hand market information and provide access to key government officials and potential business partners for U.S. IT firms specializing in Internet technologies, e-commerce, and wireless technologies desiring to establish and expand their presence in the Chinese market.

"With WTO entry pending, China businesses in virtually every industry will need to update their processes in order to compete effectively in the global market. The new trade relationships will provide greater access for U.S. IT companies to China's high growth industries such as e-commerce and telecommunications. Businesses throughout the region are seeking Internet-enabling technologies to streamline their supply chains and improve efficiencies, providing PacificNet and other U.S. IT companies tremendous business opportunities and potential for growth," said Tony Tong, CEO of PacificNet.com.

"PacificNet serves as a good example of how a U.S. IT company can succeed in Asia," said David Murphy, Commerce Consul at the US Consulate in Hong Kong. "This trade mission's primary goal is to understand the enormous potential the China market offers to companies who provide IT related services. China's Internet usage is increasing by over 200% every six months, and is expected to surpass Australia this year to become the Asia-Pacific region's largest IT market. With the Asian IT services market expected to reach US$ 26 billion by 2004, the timing of this mission is essential for businesses interested in entering or expanding their presence in these strategic markets."