Tradelink Electronic Commerce Ltd, whose shareholders include the HKSAR Government and 11 major private sector Hong Kong companies, including Cable & Wireless HKT, Standard Chartered Bank, HACTL, HIT and MTL, among others, launched a new website, tradelink-ebiz.com, on Feb. 17. Through it, Hong Kong traders can use the Internet to lodge electronic transactions such as trade declarations, and to handle electronic transactions from their factories in China via the website's partners, CIECC.
The China International Electronic Commerce Centre (CIECC), the IT network and Internet arm of China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC), is a Tradelink partner. CIECC customers will be able to access CIECC services from Hong Kong via Tradelink's network. CIECC also provides information o the latest regulations for doing business in China and even a list of business and investment opportunities in China.
Bridge Information System (Hong Kong) Ltd is the other tradelink-ebiz strategic partner. Bridge provides financial information system of virtually every worldwide financial market, including premium data on equities, fixed income, commodities, foreign exchange, plus news and in-depth history, and corporate action announcements. Bridge news is culled from more than 600 journalists in 100 bureaus worldwide.
Tradelink is working to bring TradeCard services to Hong Kong's import/export community. The convenience and simplicity of TradeCard service will be a huge benefit to Hong Kong's import/export community, especially the SAR's many smaller-sized businesses which have to be very cost-conscious, and find the existing, paper-based trade payments systems time-consuming and inefficient, according to Justin Yue, CEO of Tradelink.
"With the new Internet-based services that Tradelink is now providing and the guaranteed trade payments solution being offered by TradeCard, our customers will be able to handle the full purchasing, Government documentation, invoicing and payments cycle through a 'one-stop shop'苛simply and securely via the Internet," said Yue.
TradeCard is a new payment alternative for international trade苛a solution that is said to be easier than a letter of credit and more secure than an open account. Working with Tradelink, TradeCard will provide the underlying transaction processing and financial service aggregation needed to conduct business online.
The process starts with becoming an approved member of TradeCard network. Once a buyer and seller agree to do business, TradeCard enables them to negotiate terms for settlement online 24 hours a day, seven days a week. The buyer can either create a purchase order in the TradeCard system, or have data imported to TradeCard from a community's processing system where a purchase order can be generated automatically and posted for a seller to review based on pre-defined rules and responsibilities. Finally, a specific transaction workflow is electronically created.
Tradelink expects TradeCard to be operable via tradelink-ebiz.com by Q2 this year.