A History of the Arabic Language Term Paper Example | Topics and Well Written Essays - 3000 words

A History of the Arabic Language - Term Paper Example But it was after the rise of Islam, that Arabic became the official language of the boundaries stretched between the Oxus River to the Iberian peninsula of Europe. ARABIC AND ISLAM Arabic as a major language became important after the rise of Islam. Thus the early form of Arabic can be gathered from the Quran, as it used to be written down in Arabic, the classical poetry and the descriptive work written on the life of the Prophet P.B.U.H. This classical Arabic later evolved into standard Arabic used today, however there is no much work done on the spoken language. ARABIC AS A SEMITIC LANGUAGE: Arabic Language belongs to the family of the Semitic language. The members of the Semitic language have history that dates back to thousands of years, and is enriches with knowledge. These languages prospered in the Mediterranean Basin, and it is therefore that Arabic language is sometimes taken as Proto- Semitic. Thus Arabic is considered to be the descendant of the Semitic Arabic language, us ed in the 6th century. The roots of the Arabic language lie between the Afro- Asiatic groups of languages. Since being a member of the Semitic family it is related to Hebrew and Neo- Aramaic language and is also associated with the south Semitic languages of Ethiopia, Yemen and Oman. There are many varieties and dialects of written and spoken Arabic language. There are many forms or states of the Arabic language, constituting mainly on ethnic and political backgrounds. If these varieties are considered as one single language then the Arabic language has around 340 million speakers. These varieties include Fusha or Standard Arabic, Mudaric Arabic, Namra, Quranic Arabic and many more (Brian Bishop, 1998). Arabic is the only remaining member of the Old North Arabic Dialect, having a rich background and inscriptions dating back to the 4th century. Arabic is written by using Arabic alphabet or fonts, which is written from right-to-left. Arabic language is a very old and rich language, wh ich has formed the basis of many other languages such as Persian, Turkish, Urdu, Hindi etc. Because of the Muslim rule in Spain, which was for 700 years, the influence of Arabic language can be seen in Spanish and Roman languages. Not only that, Arabic has borrowed words from many languages such as Hebrew, Greek, and Syrian etc. The fast surfacing and spread of Arabic language was mainly due to the fact that the speakers of the Arabic language became political figures and thus unlike other Semitic languages which fossilized with time, Arabic language emerged as a leading language of the Arabian Peninsula. Arabic language is unique and important for many historians as it has preserved a large majority of the original Proto-Semitic features .According to many linguists, Arabic is important source of information as it is the only Semitic language which has preserved features of Proto-Semitic (i.e. Hebrew or Amharic) in the Afro-Asiatic group of languages).Hence, the Modern Arabic is al so thought to be part of the Arabo-Canaanite sub-branch the central group of the Western Semitic languages. CHANGES WITH MODERN TIMES Arabic language has three cases, which are the nominative, the accusative and the genitive. While writing any Arabic word 28 letters are used along with some foreign words. The long vowels that are â€Å"a, i and u† are represented by the Arabic letters 'alif, ya' and waw respectively. From the modern standard Arabic to the earliest Proto Semitic Arabic many changes have occurred with time. These changes are mainly in terms of phonology, syntax and lastly morphology. Phonology is the sound or the pronunciation of a word. The proto –Semitic is characterized by a six vowel system composed of three long which are explained above and three

Market target paper Research Example | Topics and Well Written Essays - 1250 words

Market target - Research Paper Example Trademark is therefore a name that is much cherished and is given importance by the people who believe in high quality watches, which signify their rich taste and superior class – all represented duly by Trademark. The watch industry has been specifically catered to by giving the audience a taste of supreme class and rich elegance, which are some of the most renowned and sought after attributes that one looks in a watch. Fortunately for Trademark, the owners have always believed in all these finer aspects, and hence the reason that Trademark has been able to manifest its due role within the related scheme of things. The demographics for Trademark include the people who belong to different age segments. These have comprised of the middle class segments within the socio-economic realms as well as the elite class which believes staunchly in class and exuberance more than anything else. This is the reason why Trademark has been instrumental at creating a niche of its own, and is m uch renowned within the market. The brand is a hit within the people from these socio-economic domains, and is easily looked after by both the genders – males and females. It has been able to target people from the age of 18 years up to 75 years. Such is the diversity within the watches of Trademark that it has been able to represent high quality and rich taste amongst all concerned. Trademark’s owners know that they are selling on the quality tangent more than any other factor. This is the reason why Trademark is known to be a ‘killer’ watch amongst the competitors, because it is able to garner quite a lot of fame and recognition due to its sophistication and the value which it brings for its buyers. The people who wear the Trademark brand look famous in their own entirety, and are hailed by people who are near and dear to them. The brand signifies that the person believes in quality and wants to look good within the people where he hangs out or goes (Swe nson 1990). As far as the showroom of Trademark is concerned, it should be opened at such a place where the target audience has ease of visiting the same. They should feel pride in visiting a showroom which is close to their affinity levels. It must represent their likeliness for the area and should most definitely be a suburb within the upscale localities of the city. There must be a proper parking spot dedicated for the people who visit this showroom because the Trademark brand means quality for its buyers, and this can only be manifested by giving them a complete 360 degree package more than anything else. Trademark’s showroom should be at such a location where there is ample room for other showrooms and shops as well. However this could be a bit of an advantage if these showrooms and shops are not selling watches just like the Trademark brand. The exclusivity must come with a price, which indeed Trademark is charging through its customers. The brand has been able to give the best value to its buyers through unique selling models and packages which are tailored to look after the needs and aspirations of the people who wish to buy Trademark for their own selves, family members and friends. It is very important to ascertain what the customer really wants. He requires that the brand should give him the confidence that when he wants to go

Global Warming Report Essay Example for Free

Global Warming Report Essay Over the past few decades scientist have been observing a warming trend in the over all temperature of the earth. Although the earth has been known to go through warm and cold periods, it seems that we humans are causing the earth to heat up this time. The greenhouse effect is causing the earth to go through this warming trend that we call global warming. The greenhouse effect is caused when the infrared radiation from the sun is absorbed in atmospheric gasses such as water vapor, carbon dioxide, ozone, and methane. All of these gasses escape slowly from the atmosphere, therefore the heat stays here longer in a short of warm airy blanket. Without the occurrence of the greenhouse effect scientist say that the earths average temperature would be around 30 degrees C. or 50 degrees F. There are many greenhouse gasses that can trap the infrared rays of the sun. Carbon dioxide can be released into the atmosphere in several ways, the bulk of it is produced by car exhaust, deforestation, and the burning of fossil fuels. It is a colorless, odorless, non flammable gas, and it is also the most prominent greenhouse gas in earths atmosphere. CO2 is recycled through the earths atmosphere using the process photosynthesis, which makes most life on earth possible. Another greenhouse gas is methane and it is one of the most common gasses in the universe. methane is colorless odorless gas that is lighter than air and is produced by organic decay. Deposits of methane can usually be found in areas where lots of natural decay takes place, such as swamps, and land fills. Each year we add 350-500 million tons of methane to the atmosphere through mining, raising livestock, rice cultivation, and landfills. In fact a cow can release up to a half pound of methane into the air everyday. Nitrous oxide is another colorless and greenhouse gas, however it does smell sweet. It is mostly used medically because it deadens pain, because of this it is called laughing gas. It is released naturally from oceans and by bacteria is soil. It is important to reduce our emissions because nitrous oxide we release today will still be trapped in the atmosphere 100 years from now. The set of greenhouse gasses are fluorocarbons, that is a general term for any group of synthetic organic compounds that have fluorine and carbon. These can be found in aerosol cans, refrigerators, and air conditioners. When fluorocarbons are released into the atmosphere they breakdown molecules of the earths ozone layer. The effects of global warming are also good for human beings, because it could increase food production. The most important factor in crop production is climate, and global warming would facilitate a better climate for the growth of more crops. It would also create much more space for businesses were there was once ice and harsh climate. Also without global warming the earth temperature would be about 30 degrees F. n average. With global warming there would be far fewer deaths from cold exposer. If global warming caused enough arctic melt then shippers would have many new shortcut routes to take from place to place. After glacier melt we would have access to many new mining areas. However global warming will also have some large negative effects. Such as health concerns, scientist predict that there will be ma ny more deaths from diseases that are irritated by heat, including heart attacks and heatstroke. Another downside to global warming is the amount of flooding that will occur with coastal cities. Scientist have predicted that about a sixth of the country will be under water after global warming has taken full effect. The Maldive Islands are a nation of 1190 islands that are home to over 200,000 people. These islands are only 1. 5 meters above sea level and if global warming occurs then all of those people will have to be relocated. There are many things that we as human beings can do to help prevent global warming from happening. We can start to take advantage of all the different types of renewable energy instead of burning fossil fuels that pollute the atmosphere in multiple ways. There are many types of clean, efficient, renewable energy sources. There are many energy sources that the earth has provided for us that we need to take advantage of. We need to build more wind turbines, hydro electric plants, and solar power plants. Another way of producing clean energy include using fission through nuclear power to create a clean renewable energy source. Government can also be doing there part by funding research about global warming and raising awareness about how individuals can be doing there part to reduce pollution. In conclusion, Global warming is a very serious thing, it can affect the orld in many different ways. We just need to decide which effects help or harm the world the most and then make an educated choice as to which ones the earth can handle while taking the least amount of stress, and having the best long term effect. Patrick Michaels, The Satanic Gasses Henry Willis, Earths Future Climate Fred Singer, Hot Talk and Cold Science Ronald Bailey, Gl obal Warming and Other Eco Myths

The Monopolist And Profit Maximization Economics Essay

The Monopolist And Profit Maximization Economics Essay Monopoly is a single seller and many buyers. There is no difference between firm and industry and monopoly form as imperfect market. Besides that, monopoly is the sole provider of goods and services. 2.1 Characteristics of Monopoly There are some characteristics of monopoly market. One seller and large number of buyers The one of monopoly characteristic is one seller and large number of buyers is large and the size of each firm is very small. The number of buyers also large and this firm cannot influence the market price. So basically, individual firm does not bother about the reactions of the firm. Besides that, adjusts its sale to earn maximum profits and the price given under perfect competition. The demand of individual buyers relative to the total demand. And so small that cannot influence the price of the product by his individual action. Product has no lose substitutes The second characteristics is, product differentiation, there is product are close substitutes but not perfect substitutes. Its means, products are alike but not equal. For an example, Colgate toothpaste is slightly different from Darlie toothpaste. Otherwise, similarly dettol soap is different from life buoy soap. But if the buyers can find any substitutes for toothpaste and soap means, may be the differences is real or imaginary but its create attachments. Consumers prefer one product to another, under monopolistic competition. Monopoly cannot exist if there is a competition or any substitute product because consumers or buyers could not find any replacement for the product. Restriction on the entry of new firm. The third characteristics of the monopoly are, firm under monopolistic are easy to entry and leave the industry. Barriers are not entry is natural or legal restriction that restricts the entry of new firms into the industry. Hence, a firm has legal control over other firms. There is restricting competition in the market. Advertising In monopoly market, advertising is depends to the product sold. If the product is good and services means, the monopoly needs make advertisement to inform consumers on the goods. So that, its try to establish goods of its own products. By the advertising, consumers can know their selling costs. However, if the products are not luxury goods such as water service, electricity service, and local telephone service, then the seller no need to create any advertisement. This is because a lot of the buyers know that where are the places and locations to get and purchase these few products. 2.1.1 Diagram The Monopolist and Profit Maximization In the diagram, the quantity of produced and price charged has own control for both of it. That also, entire demand curve for goods and services produced. So that, it will facing a downward slopping demand curve in the diagram. Equivalently, a monopoly never operates in the inelastic portion of its demand curve. Monopolist Profit Maximization http://i.investopedia.com/inv/articles/site/micro3.12.gif What happens if the monopolist later faces a demand curve such as D1? In that case, the monopolist cannot cover costs and will go out of business. 2.1.2 Demand, Marginal Revenue, and Elasticity http://cyro.cs-territories.com/asa2_economics/unit4/images/monopolisticcompetitionlongrun1.png In the diagram, demand curve is elastic as there many firms. So that, there is lack of close substitutes. The profits shown as abnormal where the shaded area and competitor the short run. As shown in the graph above, a monopolist facing demand curve D0 will produce quantity Q0 and the price charged will be equal to P0. 2.1.3 Conclusion All in all, monopoly have four characteristics of structure. Besides that, monopoly is the sole provider of goods and services. The monopoly market is still solely by mutually beneficial exchange of firm exist and many. 3.0 Difference between Perfect competition, monopolistic competition, oligopoly, and monopoly Perfect competition, monopolistic competition, oligopoly and monopoly have their own respectively features. Their characteristic of their four markets is not same. In monopoly, the market structure in which there is only one producer and seller for a product. Oligopoly is only few firms that make up an industry and select group of firms has control over the price. Monopoly and oligopoly has high barriers to entry. Then, monopoly structure is opposite for perfect competition. Perfect competition are has many buyers and sellers, many products that are similar in nature and there are many substitutes. 3.1 Differentiate between perfect competition, monopolistic competition, oligopoly and monopoly 3.1.1 Perfect competition Perfect competition is a market is a possible market where competition is at its greatest in possible level. The products are homogeneous and seller can easily enter and exit from their market. Number of seller and buyers Perfect competition is very large numbers of firms in the market. Perfect competition also existence of large number of buyers and sellers. There is no dominating firm and all firms are usually small and are price takers, because the individual sales volume is relatively small compared to market volume. The price does not change and there is no discernible change in the quantity exchanged in the market. Unrestricted to entry and exist The second characteristics of perfect competition is there are unrestricted on the entry and exist of both buyers and sellers. A firm can easily enter into perfect competition market and leave the market at any time, if that firm cannot continue the firm. The absence of such barriers does not affect the prices, and there is always a substitute for suppliers, who enters and leaves if, wants. If any losses occur the firm will exist the industry without any reason. This is important to understand the free entry and free exist is possible in the long-time firm. Homogeneous product There another condition of perfect competition is homogeneous product that is a product offer for sale by seller. It must be goods offers for sale and perfect substitutes of one another seller. One firm cannot differentiate the same products sold in the industry because buyers can identify the difference in terms of colors, quality and packing. There is mean, even though the products are same in nature but there is difference in terms of quality. Seller cannot raise the price above the prevailing price or lower the price. Homogeneity of product has an important implication for the market if products of different seller. Besides that, buyers not care who they buy from, as long as the price is same. Maximum profits In the perfect competition, profit maximization determine by the quantity of product they sell. The marginal cost by the product of a single unit of the product is equal to the marginal revenue. Total revenue and total cost approach are the profit maximization. When the cost is lowest, and then only can be maximum profit. 3.1.2 Monopolistic competition The concept monopolistic competition is more realistic than perfect competition. Monopolistic competition market each firm has its own price policy. The most things from another thing feature of monopolistic competition are the products of various firms are not identified. But they are close substitutes for each others. In the case, monopolistic and perfect competition is characteristic by the existence of sellers. The firms do not produce perfect substitutes. Otherwise, each firm has a small percentage of the total monopolistic market and thus has limited control over market price. Product differentiates. Under monopolistic competition, product differentiation may entail physical or qualities differences in the products by their selves. There output product are differentiated between which are relatively close substitutes for each other. So that, that product prices cannot be very much different from each other. Product differentiated by location, services, designs, and brand names. The firms in monopolistic competition will differentiated their products and make them more appealing to the customers in order to maximize their profits. 3.1.3 Oligopoly In an  oligopoly, there are only a few firms that make up an industry. This select group of firms has control over the price and, like a monopoly; an oligopoly has high barriers to entry. Main characteristic of oligopoly is interdependence of firms in the industry. Sum more, in the oligopoly market, all firms can earn abnormal profits in the long run because, the entry of new firms are difficult. Oligopoly is not like monopolistic market, because if firms change the prices or output, it has noticed effects on the sales and profits of its competitors. Small number of large firm Approaches from small number of large firm are each which is relatively large compared to the overall size of market. Under oligopoly, few firms control the overall industry and there is no specific number of firms that must control the market. Homogeneous of differentiated product Under oligopoly, when a product sold that can be either a homogeneous or a differentiated product. For example, petroleum, steel and etc. and also, oligopoly focus on goods sold. Basically, people have different wants needs and thus enjoy variety. Such as, automobiles and computers. Barriers no entry Barriers no entry is similar to monopoly market. The oligopoly firms will restrict new entry into the market. In this industry, a few huge firms own most of the available iron ore, a necessary raw material for steel production. Once the new firms are out of the market, there large firms reduce the production will increase the price. In these cases, barriers to entry are low, and it also as small investment may be required to enter the market structure. 3.1.4 Monopoly Monopoly can be considered opposite of perfect competition. It is a market form in which there are only sellers. Even though, there are many factors to rise up monopoly market. There is only one supplier; and the demand curve that individual firms face is the market demand curve. A monopoly firm is deemed to have considerable control over the price of its product. In the case a monopoly can also arise if a company owns the entire supply of a necessary material needed to produce a product. 3.1.5 Conclusion Characteristic Perfect Competition Monopolistic Competition Oligopoly Monopoly Number of firms Very Many Many Few One Type of Product Homogeneous Differentiated Homogeneous / Differentiated Only product of its kind (no close substitute) Ease of entry Very easy Relatively easy Not Easy Impossible Price Setting power Nil (Price taker) Somewhat Limited Absolute (Price Maker) Non Price Competition None Considerable Considerable for a differentiated oligopoly Somewhat Productive efficiency Highly efficient Less Efficient Less Efficient Inefficient Long run profits 0 0 Positive High Examples Doesnt Exist; agriculture close Fast Food, retails stores, cosmetics Cars, Steel, soft drinks, cereals Small town newspaper, rural gas station 4.0 Conclusion and recommendations In the whole assignments, I learned about microeconomics subject ant it is a very important subject to whom taking business course. The subject teaches every student about business skills and helps to learn about business knowledge of economics. In first question, I know the characteristics of monopoly. I also learn the differentiated of monopoly in the markets. The second question is about the differentiate between perfect competition, monopolistic competition, monopoly and oligopoly markets. From this question, I learned about the four characteristics of the markets such as the four markets are not same all the times. In spite of this assignment, I thank to my lecturer and coordinator for guide us to do this introduction to business. I appreciate from this assignment that I can know well about the business chapters. Appendix

Cookies Invading Our Privacy :: Internet Technology Computers

Cookies Invading Our Privacy Cookies now constitute a real threat to personal privacy, but they are perfectly legal. A cookie is a tiny file that a Web sites place on the user’s hard drive when the user accesses the web page. Each cookie has a specific identification number. The cookie can gather personal information such as email addresses, full names, mailing addresses, and phone numbers, and then it sends the information back to the web site (Samborn 26). Whereas TV, radio, and print record only demographics or neighborhoods, a cookie keeps record of what an individual is actually looking at and doing on the net. As a result, Web site operators or companies are able to build very detailed profiles from that behavior (Green 48). These profiles play a major role in online marketing. In the past, marketers knew their customers just as a number, but when DoubleClick, an Internet advertising company, bought out Abacus Direct, DoubleClick was able to combine its databases with the names and addresses form Abacus’ catalog customers. Now web surfers can no longer surf the net without their computers being tagged to their names. (Quinn 63) Even more disturbing, hackers can now intercept the data from the cookie. With a specially constructed URL, a hacker can read cookies from any domain because the special URL fools a computer into thinking that the hacker’s computer is the domain site. As things stand now, Federal laws are far from clear when it comes to what cookies can collect and how the information can be used. According to US Sen. Robert Torricelli, â€Å"Congress has considered several privacy bills in the past few years, but only one, the Children’s Online Privacy Protection Act, has been passed† (Samborn 27). This problem is only going to escalate if something isn’t done to limit what Internet sites and marketing agencies can collect from people surfing the Web. Cookies Invading Our Privacy :: Internet Technology Computers Cookies Invading Our Privacy Cookies now constitute a real threat to personal privacy, but they are perfectly legal. A cookie is a tiny file that a Web sites place on the user’s hard drive when the user accesses the web page. Each cookie has a specific identification number. The cookie can gather personal information such as email addresses, full names, mailing addresses, and phone numbers, and then it sends the information back to the web site (Samborn 26). Whereas TV, radio, and print record only demographics or neighborhoods, a cookie keeps record of what an individual is actually looking at and doing on the net. As a result, Web site operators or companies are able to build very detailed profiles from that behavior (Green 48). These profiles play a major role in online marketing. In the past, marketers knew their customers just as a number, but when DoubleClick, an Internet advertising company, bought out Abacus Direct, DoubleClick was able to combine its databases with the names and addresses form Abacus’ catalog customers. Now web surfers can no longer surf the net without their computers being tagged to their names. (Quinn 63) Even more disturbing, hackers can now intercept the data from the cookie. With a specially constructed URL, a hacker can read cookies from any domain because the special URL fools a computer into thinking that the hacker’s computer is the domain site. As things stand now, Federal laws are far from clear when it comes to what cookies can collect and how the information can be used. According to US Sen. Robert Torricelli, â€Å"Congress has considered several privacy bills in the past few years, but only one, the Children’s Online Privacy Protection Act, has been passed† (Samborn 27). This problem is only going to escalate if something isn’t done to limit what Internet sites and marketing agencies can collect from people surfing the Web.

How To Make Money Selling Item :: essays research papers

How to make money selling items through internet auctions. Buying and selling things is not new. As a matter of fact, people have been buying and selling things in one form or another ever since time began. It is part of life. We all need or want things that we can not provide for ourselves, so we have to find someone who can supply us with the items, and we pay them to provide us with these items we need or want. Ebay is an online auction service that helps people sell their items to people across the country, or even the globe, for a good profit. So if someone has been trying to sell something through the classifieds in their local newspaper and the item has not been selling, they could advertise it on eBay, and someone could buy it from another state. I want to explain how to sell, make profit, and have many return customers from listing items on eBay.Deciding what to sell is not as easy as it looks. There are two main types of items that can be sold. The first and most obvious are those items that are lying around the house that need to ridden of, like of those CD’s that are not listened to anymore, that old toy gotten as a kid, things like that. These items are great to sell to make some extra money, but they are a one time sale item, meaning once they are sold, they are gone and so is the chance at a recurring income. The second category of items that can be sold is a set of products that I create or buy in order to sell them. These can be a great source of income, things as simple as my mother’s recipe for chocolate chip cookies, an information disk, or book about Beanie Babies. These types of items are things I can sell over and over again. They may not bring in as much money per item as other items, but I can sell them in a great quantity. I want to give a detailed description of the item types that I have just talked about.First, I will take the one of a kind items. These are the items that are taking up space in my closet, the things that I have bought and do not have a use for anymore, or the things I have gotten as presents that have never been taken out of the box.

China online banking development Essay

China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to China’s large population, the country’s Internet market still has great potential. Information technology has been utilized in almost all sectors of China’s economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in  China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to China’s large population, the country’s Internet market still has great potential. Information technology has been utilized in almost all sectors of China’s economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in China. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of â€Å"Perfecting our International and Distribution Business† caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing – China’s capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1’s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, I’m quite familiar with Chinese financial industry structure. I’d like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1’s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments’ policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through â€Å"All in One Net†, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called â€Å"International Symposium on the Development of Online Banking and Supervision† sponsored by China Banking Regulatory Commission, China’s online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses. In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation – from a traditional â€Å"cash and carry† banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China China’s online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China. According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), China’s major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business – BANKING@HOME. ICBC officials said the upgraded e-banking platform could facilitate a key shift of the bank’s outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows â€Å"almost all services a traditional banking outlet offers† to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com – Chinese – Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com – Chinese Simplified – English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com – Chinese Simplified – English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information. International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn – Chinese Simplified – Chinese Traditional – English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking. Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the People’s Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibank’s Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages. Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service. China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to China’s large population, the country’s Internet market still has great potential. Information technology has been utilized in almost all sectors of China’s economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in China. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of â€Å"Perfecting our International and Distribution Business† caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing – China’s capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1’s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, I’m quite familiar with Chinese financial industry structure. I’d like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1’s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments’ policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through â€Å"All in One Net†, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called â€Å"International Symposium on the Development of Online Banking and Supervision† sponsored by China Banking Regulatory Commission, China’s online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation – from a traditional â€Å"cash and carry† banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China China’s online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), China’s major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business – BANKING@HOME. ICBC officials said the upgraded e-banking platform could facilitate a key shift of the bank’s outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows â€Å"almost all services a traditional banking outlet offers† to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com – Chinese – Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com – Chinese Simplified – English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com – Chinese Simplified – English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information. International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn – Chinese Simplified – Chinese Traditional – English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking. Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the People’s Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibank’s Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages.   Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of â€Å"Perfecting our International and Distribution Business† caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing – China’s capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1’s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, I’m quite familiar with Chinese financial industry structure. I’d like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1’s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments’ policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through â€Å"All in One Net†, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called â€Å"International Symposium on the Development of Online Banking and Supervision† sponsored by China Banking Regulatory Commission, China’s online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses. In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation – from a traditional â€Å"cash and carry† banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China China’s online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), China’s major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business – BANKING@HOME. ICBC officials said the upgraded e-banking platform could facilitate a key shift of the bank’s outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows â€Å"almost all services a traditional banking outlet offers† to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com – Chinese – Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com – Chinese Simplified – English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com – Chinese Simplified – English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn – Chinese Simplified – Chinese Traditional – English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the People’s Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibank’s Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages.   Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service.