JINAN, China, Sept. 20 /PRNewswire-Asia-FirstCall/ -- Jinan Yinquan Technology Co., Ltd., the wholly-owned subsidiary of China VoIP & Digital Telecom (OTC Bulletin Board: CVDT), announced that it has signed an agreement with Mr. Li Jian and Mr. Li Kunwu, Chairman and CEO of CVDT, to form Shandong Yinquan Investment Holding Limited. The newly created company with registered capital of RMB 48 million will establish a cloud computing science park. Yinquan Technology will invest RMB 13 million in the holding company.
Shandong Yinquan Investment Holding Limited will establish China Cloud Computing Science Park in Shandong province. It will be located in Wending City's Nanhai New Areas where the company has obtained approximately 50 acres of land for the technology park. This project has received strong government support and will enjoy a series of land and tax incentives.
The project calls for building 6,000 square meters of data centers, which will provide both disaster recovery and data backup services to enterprises, institutions and government agencies. It will also establish 70,000 square meters of business incubation areas to attract domestic and foreign enterprises. In addition, the project will create a 30,000 square meter laboratory for a cloud computing and virtualization support platform. This lab will be the venue for partnership and cooperation with Tsinghua and Shandong University as well as VMware, Vizioncore and other internationally renowned manufacturers. Shandong Yinquan Investment Holding Limited will also invest in a 50,000 square-meter national cloud computing and virtualization technology center for professional education and training. The national training base will include 30,000 square meters for a conference center and 35,000 square meters of business apartments to house domestic and international experts who will conduct R & D, and focus on technological innovations.
Mr. Li Kunwu, Chairman and CEO of CVDT, commented on the new collaboration. He said, "The new cloud computing science park offers enormous economic potential. In addition, we also predict many social and environmental benefits from the project. We're also proud to say that the science park conforms to (and in some cases exceeds) national industry development standards. As a result, this collaborative venture has received strong government approval and support. We're excited by the many financial and scientific prospects for the future."
About China VoIP & Digital Telecom Inc.
China VoIP & Digital Telecom Inc. offers virtualization technology application in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co., Ltd and Beijing PowerUnique Technologies, Co., Ltd. Through the two subsidiaries, China VoIP & Digital Telecom is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its integral virtualization solutions and services in China and at this time is in the testing stages of other Information Technology products. More information can be found at http://www.chinavoip-telecom.com .
About Virtualization Technology
Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way people compute.
Today's powerful x86 computer hardware was originally designed to run only a single operating system and a single application, but virtualization breaks that boundary, making it possible to run multiple operating systems and multiple applications on the same computer at the same time, increasing the utilization and flexibility of hardware.
Virtualization is a technology that can benefit anyone who uses a computer, from IT professionals and Mac enthusiasts to commercial businesses and government organizations. Millions of people around the world use virtualization to save time, money and energy while achieving more with the computer hardware they already own.
Safe Harbor Statement
Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information please contact
CVDT Investor Contacts:
Michelle Wong
Tel: +86-531-5558-5742
Email: michellewong@chinavoip-telecom.com
Great Wall Research LLC
Sheena Shen
Tel: +1-203-252-7266
Email: sshen@greatwallresearch.com
