HONG KONG, Aug. 27, 2014 /PRNewswire/ — The board of directors of China Public Procurement Limited (HKEx stock code: 1094, the "Company" or "CPP") is pleased to announce that CPP’s subsidiary Guocai (Beijing) Technology Company Limited (the "EJV") has entered into a framework cooperation agreement with Shenzhou Yiqiao (Beijing) Finance and Tax Technology Company Limited ("Beijing Financial") in relation to the inter-connection between their electronic platforms to provide various services.
Beijing Financial is a developer and operator of software in relation to financial, tax and payment management matters for small and medium-sized enterprises. It operates the Beijing Financial Management System, which is a software application system developed for finance and accounting practitioners, which integrates a financial information platform with various software programs in relations to financial, tax and payment management matters.
According to the agreement, Gongcai Tong (an online public procurement information platform run by CPP) and Beijing Financial Management System will be inter-connected to integrate various services, including credit investigation services, electronic receipt services, third party payment services and financial and factoring services. Both parties agreed to promote sales of Gongcai Tong and the the Beijing Financial Management System through various marketing channels, including internet, mobile applications or exhibition.
Credit Investigation Services
Subject to the relevant authorisation of the users of the Beijing Financial Management System being obtained, Beijing Financial agreed to provide financial data of such users to the EJV for the purpose of supplementing the supplier credit investigation and credit rating services of the China Public Procurement Platform.
Electronic Receipt Services
The EJV and Beijing Financial agreed to increase their cooperation in the research and promotion of the use of electronic receipts and the application of electronic receipts in pilot development areas and in electronic public procurement platforms.
Third Party Payment Services
The EJV, the Company and a third party payment service provider entered into a cooperation agreement in relation to the provision of third party payment services on the China Public Procurement Platform. The said third party service payment service provider shall be engaged for the provision of third party payment services, including but not limited to online payment services and electronic reconciliation services, to customers of Beijing Financial. Beijing Financial agreed to incorporate such services into the Beijing Financial Management System.
Financial and Factoring Services
Both parties agreed to jointly develop factoring services regarding export tax rebate and other financial services for exporters.
Mr. Cheng Yuanzhong, Chairman of the Company, said "We welcome the framework cooperation agreement with Beijing Financial. We will be able to utilize our respective strength to enhance operation efficiency and lower operating costs through the integration of certain products and services. CPP will be benefited in the long term."
About China Public Procurement Limited
China Public Procurement Limited is listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 1094). The Group is principally engaged in the development of the public procurement services which involves the provision of procurement services to general public and government in the PRC, and the development of EMC service.