Pansoft Company Limited, BVI-registered ERP software service provider for the Chinese oil and gas industry, signed an agreement with Jinan City Housing Industrialization Development Center – a state-controlled business under the Urban Construction Committee of the Jinan Municipal Government. According to the agreement for developing and operating a web based software platform – the China Skeleton Infilling (CSI) Products E-commerce Platform, – the BVI company will invest RMB 15 million over three years, for a 70 percent stake in the CSI Products E-commerce Platform. Jinan Housing Industrialization Development will provide the relevant CSI technology and trading model, in exchange for a 30% stake in the platform.
The Director of the Jinan City Housing Industrialization Promotion Center Mr. Quanliang Wang said that CSI model apartments are expected to comprise 20 percent of all housing in China in the near future, and the potential market for CSI products will make approximately RMB 110 billion, 22 billion of which is expected to be transacted through the trading platform operated by the joint venture with Pansoft.
By words of Pansoft’s Chairman Hugh Wang, the cooperation with the Jinan Housing Industrialization Development Center is a “great opportunity for Pansoft to enter enter into the CSI product e-commerce market with solid government support and strong environmental awareness”.