COMMERCE ONE EXPANDS INTO CHINA WITH NEW VENTURE.

Internet business marketplace developer Commerce One Inc. and seven Greater China businesses have agreed to develop a business-to-business Internet portal for the world-wide exchange of goods and services among businesses. The deal calls for the partners - which include Beijing Enterprises, i-CABLE Ventures, Jardine Internet, New World China Enterprises Projects, SUNeVision, Swire Net Ventures and WI Harper Group - to fund the project with an initial investment of USD40 million, Commerce One said. The seven companies and their affiliates have a trading volume of 20% of Hong Kong's gross domestic product, Commerce One added. The portal will anchor the Hong Kong and mainland China hub of the Global Trading Web - electronic marketplaces running on the Commerce One MarketSite Portal. The portal will target several industries including aviation, automotive supplies, building materials, computers and components, fixed and wireless telecommunications, hotels, medical and healthcare products, retail, shipping and logistics. "By forming this joint venture we are ensuring that both suppliers and sellers in the Greater...