Mining 2.0?
The lure of the Chinese market continues to dazzle. Add the internet and you’ve got a goldmine, right? That’s the conclusion of Admax Resources, a Nasdaq listed (AMXU.OB - News), mining company in British Columbia. It has decided to change its name to China YouTV Corp.
Thanks to a story from China Tech News, we’ve learned that Admax plans to launch a business aimed at the fast-growing video sharing web site market in China. So, while it continues looking for something valuable beneath the ground in Canada, it’s hedging its bets by tapping the natural resources of the growing numbers of net users in China.
In its press release the company explains that the 19th report of the CNNIC (China Internet Information Center) says there are currently over 137m netizens in China, accounting for 10.5% of the population, ranking second only to the US. Big numbers, true, but hopefully Admax has a Plan B if this diversification fails to hit the mother lode.
March 16, 2007 at 2:52 pm
Leaping boldly into new markets and products is something of a Chinese speciality (and despite its Nasdaq listing and Canadian efforts Admax is Chinese controlled). Some firms have made this a virtue - instant messaging giant tencent’s venture into the competitive portals market is regarded as a huge success. But you have to wonder just how much expertise Admax can expect to bring in the internet video field…
March 22, 2007 at 5:13 pm
[...] China caper Since writing about China YouTV, we’ve heard that Dell is now aiming to flex its muscles in China with a super-cheap PC aimed [...]