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China Unicom, Galaxy launch wireless service
( 2003-12-19 02:10) (China Daily)

China Unicom Corp, the country's second largest mobile operator, announced yesterday that it has joined hands with China Galaxy Securities Co Ltd to further boost the application of its CDMA (code division multiple access) networks.

By downloading Uranus, a software developed by China Galaxy Securities, to CDMA cellular phones, subscribers can use their mobile phones to buy and sell stocks.

"The service will greatly encourage the development of the capital market by enabling millions of individual stock investors to conduct trading anytime anywhere,'' said Wang Jianzhou, president of China Unicom.

Based on CDMA networks, Uranus enables mobile phone subscribers to study the real-time stock market performance and deal in stocks, and also check the real-time technical charts.

"With the fast data transmission and high security, this kind of stock trading will become one of the best choices for stock investing,'' Wang said.

He expects mobile stock trading is going to spread quickly and widely.

To facilitate the application, Zhu Li, president of China Galaxy Securities, said the company is going to build a financial information centre soon to better serve investors.

Meanwhile, the company has already invited 50 financial experts and analysts to give indepth analysis of market performance more than 30 times every day for CDMA phone investors, he said.

According to Tang Shisheng, vice-president of China Galaxy Securities, the company will also kick off a series of promotion activities in the following months to give a shot in the arm to this new way of stock trading.

"We will, for instance, distribute CDMA phones and Uranus software free of charge to our high-end clients,'' he said.

Also, the company will team up with China Unicom to offer a series of mobile telecommunications fee discounts and free Uranus software.

In another development, Liu Yunjie, vice-president of China Unicom, said the company is going to join up with more stock brokers in the years to come.

He revealed that it has so far clinched co-operative agreements with 15 brokers.

"Co-operation with other brokers will be very similar to what we have with China Galaxy Securities,'' he said.

He believes expanded co-operation will provide more choices to its CDMA subscribers.

As the country's only CDMA network operator, China Unicom has so far recruited more than 17 million CDMA subscribers.

The company aims to recruit 20 million CDMA subscribers by the end of this year.

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