Posted by : bpburnwal on Oct 09, 2003 - 11:44 AM General

Shanghai. October 9. INTERFAX-CHINA -Chinasoft Network Technology Co., Ltd. plans to set up a joint venture with East China Research Institute and China Electronic Technology Corp. to tap the Chinese Linux-based application software market, Chinasoft Network spokesperson Liang Qiong told Interfax in an interview.
East China Research Institute launched an office automation software named Ton Office in April. The product is currently being sold at a price only one tenth of Microsoft Office in China.

"The new venture will develop and market a new Ton Office software based on Linux," said Liang. "The venture will be established soon if its proposal wins a go-ahead from at the shareholders' meeting on October 16."

Chinasoft Network will hold a 50% stake in the new company, which will draw a total investment of RMB 50 mln (USD 6.04 mln). China Electronic Technology will hold a 32.5 % stake, while East China Research Institute will hold the remaining shares. China Electronic Technology is the parent company of East China Research Institute.

Chinasoft Network is the listed arm of China National Computer Software and Technology, a government-backed software developer in China.