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LexisNexis Launches Chinese Online Service
BEIJING, CHINA, January 24, 2005 - LexisNexis Group, a global leader in comprehensive and authoritative legal, news and business information, today announced the launch of a new Chinese language online service called LexisNexis China Online (http://research.lexisnexis.com.cn).
This powerful new research tool, which LexisNexis has developed specifically for the Chinese market, is designed to help customers quickly and easily find relevant data, particularly on rapidly changing legal and regulatory issues in China. The service will be of key importance to legal and professional services firms who have a need for "China" and "Chinese language" content and also domestic and international corporations who need up-to-date Chinese legal and regulatory information available at their fingertips.
The new online service was announced at a press conference today by LexisNexis Group Chief Executive Officer Mr. Andrew Prozes. LexisNexis Group is a member of the Reed Elsevier Group plc, a world-leading publisher and information provider with annual revenues of approximately €8 billion.
LexisNexis China Online was created in part through an acquisition of leading China tax and financial information provider PRCInvestment.com. PRCInvestment.com, which currently focuses on tax and financial content, will be expanded over the course of the next several months to incorporate legal and regulatory material covering a wide range of subject areas. By the end of 2005, LexisNexis China Online will provide clients with a full range of Chinese legal, tax and regulatory content.
"The launch of LexisNexis China Online is a milestone both for LexisNexis and for anyone doing information research on China. By launching this powerful new channel based on information from Chinese sources, LexisNexis is demonstrating its commitment to the China market and to providing products and services that meet the "China" and "Chinese language" needs of our customers worldwide" said Prozes.
"China has made remarkable achievements over the past years. It has become a catalyst in the development of the world economy," Prozes added. "The country’s rapid integration into the international business community has made it imperative for domestic Chinese companies to have access to authoritative regulatory information. Likewise, multinational companies also have an increasing need for reliable information on China’s regulatory, tax and legal environment. LexisNexis China Online will satisfy these needs."
LexisNexis also announced that it had recently entered into exclusive licensing arrangements with the State Information Center (SIC), through its subsidiary Beijing Guoxin Xunjie Information Resources & Develop Technology Co., Ltd., for content provided under its Chinese legal, tax and regulatory product "chinalaw.net" and Chinalawinfo, for its "lawinfochina" English language content. The backing of these two key content providers will further enhance the value of LexisNexis China Online for the legal market.
"China is a significant growth market for LexisNexis thanks to its burgeoning economy and rapidly evolving regulatory, legal and tax environments. LexisNexis is committed to contributing to this growth through constant innovation and upgrading of our products and services," said LexisNexis Asia Pacific CEO Miyuki Suzuki. "The initial launch of LexisNexis China Online is an important step into this market. We have secured access to a vast base of Chinese legal information through our partnerships with SIC and Chinalawinfo and intend to announce more exciting developments over the coming months."
LexisNexis entered the mainland China market in 2001 through the opening of a representative office in Beijing, and has quickly established itself as a premium and trusted research channel amongst legal, corporate, government and academic end-users. In order to meet China’s rapid economic growth and legal development, LexisNexis opened a second office in Shanghai in 2004. Since entering the China market, LexisNexis has been offering customized products and services in order to meet rapidly growing demand.
About LexisNexis Group
LexisNexis Group is a global leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of the Reed Elsevier Group plc, the company does business in 100 countries with 13,500 employees worldwide. In addition to its flagship web-based Lexis® and Nexis® research services, the company includes some of the world’s most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
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