Corporate Profile

e-NetChina, Inc is a multinational e-commerce service provider with offices in Beijing, China and Seattle, WA USA. An E-Commerce pioneer, and payment systems solution provider since April 1994, e-NetChina has since helped thousands of US based merchants to process online payments using iPOSS, it's proprietary transaction processing engine.

Through relationships developed over the past 4 years, and by systematic enhancements to its core software, e-NetChina is now able to reliably demonstrate live transactions in China using major credit cards from either country and using the native currencies of both China and the US. This latest advancement has positioned e-NetChina as a pioneer in international E-Commerce, capable of processing transactions across the Pacific Ocean in real time, and enabling it to streamline the payment model for Import/Export as well as facilitating domestic transaction processing for merchants on both sides of the Pacific.

China has ratified its membership and is now the 143rd full member of the WTO as of 11 December 2001. Chinese Taipei's membership has also been approved. According to WTO Director-General Mike Moore, "China is one of the fastest growing economies in the world, and has made tremendous progress in the last decade thanks to an economic system increasingly open to trade and foreign investment. Now this economy will be subjected to the rules-based system of the WTO, something which is bound to enhance global economic cooperation."

By aligning itself with industry leaders in both countries, particularly those who are able to Import and Export to and from China, e-NetChina will position itself as a catalyst for the enhanced trade relations that will naturally follow China's entry into the WTO, effectively bridging the ocean for merchants on both sides, and paving the way for tremendous increases in foreign trade, providing better prices, cultural exchange opportunities and many new jobs for merchants in both economies.

e-NetChina has core competencies in Internet transaction processing and the various other components required to affect E-Commerce. The company's Internet Point of Sale System (iPOSS) initially released first quarter 1995, enables even unsophisticated Internet merchants to quickly and easily begin processing credit cards over the Internet in real time via the simple iPOSS Setup Wizard. iPOSS is rich in features and automatically E-Commerce enables merchants whose needs range from simple product sales to sophisticated password management and automated re-occurring billing. Bundled service packages can also include Internet Merchant Accounts, Domain hosting and registration, and Shopping Cart solutions.

Rapid expansion is planned domestically by developing a strong channel marketing program, enabling ISP's, Web Developer's, Web Hosting Companies, ISO's and Bank's to bundle e-NetChina's iPOSS solution with their existing products while earning residual back end commissions on transaction volume. In this way the channel partners will be able to almost effortlessly add a residual revenue stream while enhancing the market potential of their existing product offerings. OEM branding of iPOSS is also available for high volume companies wishing to establish their own E-Commerce Identity, with e-NetChina performing the backend transaction processing infrastructure and technology.

Internationally, e-NetChina's initial expansion will be accomplished by completing development of its proprietary Internet payment system in China, and then Beta testing using Merchant relationships already established in several strategic cities throughout China prior to an accelerated rollout. A variety of alliances have been formed for marketing, including several resellers/distributors, and an agreement has also been signed with China Yangzhou Guanglian Network Commerce Co., Ltd. to develop the exclusive E-Commerce payment gateway system in the Jiangsu Province of China. This project is supported by the Yangzhou City Government and may be implemented nationally once it passes the beta-testing phase.

e-NetChina currently enjoys a strong advantage in China due to the significant barriers to entry existing until now for foreign companies in that country, and due to relationships established by its CEO, Dr. Austen I Y Chan, who is a Chinese born American and successful businessman.