SINGAPORE - Singapore Press Holdings (SPH) on Sunday (Feb 26) signed a joint venture agreement with China's largest online creative services platform, ZBJ Network, Inc.
The venture, which is the first in China by SPH's Digital Division, will see both companies develop a business-to-business (B2B) bilingual online creative services platform, said to be the first of its kind.
The platform will be targeted at small and medium enterprises (SMEs) in Singapore, Malaysia and other South-east Asian countries.
ZBJ Network, Inc. operates zbj.com, an online marketplace that offers creative services including logo design, translation, website design and business development.
The site, which was started in 2006, has more than six million registered users and 13 million service providers, with a transacted value of 7.5 billion yuan (S$1.5 billion).
The joint venture agreement was signed by SPH deputy chief executive Anthony Tan and ZBJ Network, Inc. President Wang Nan in Beijing.
Also present at the signing ceremony were Minister in the Prime Minister's Office Chan Chun Sing and Mr Zhang Guoqing, the mayor of Chongqing City.
The ceremony was held before the Singapore-China Joint Council for Bilateral Cooperation (JCBC) meeting in Beijing.
Mr Tan said the partnership allows SPH to provide a one-stop holistic package for local SMEs which are searching for comparable creative services here and from China.
"Similarly, the businesses in China could also reach out to our service providers here. This is a significant move for both companies, which will in turn forge closer ties between China and Singapore," he said.
Mr Wang said the partnership will leverage on ZBJ's "extensive data, creative services, corporate clients and supply chain, to provide design, marketing and business development services to the businesses in Singapore and Malaysia".
The name of the new platform, along with more details, will be announced late this year.
Correction note: The original story stated that the site's transacted value was 7.5 million yuan. It should be 7.5 billion yuan. We are sorry for the error.