E-tailing with Chinese characteristics

China''s central bank has loosened the reins on clearing and payment systems, to pave the way for electronic procedures. But some online retailers are sticking to traditional methods.

Eachnet.com, a Chinese language online auction site, has its eyes on the title of China's largest consumer e-commerce community. The company claims to have 650,000 users and that its website receives more than 800,000 hits each day. The company also boasts that it has auctioned about $25 million worth of computer and technology related goods since its launch in August 1999. It says it can host over 35,000 simultaneous auctions.

Now, Eachnet.com plans further expansion with a new...

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