The Chinese B2B e-commerce platform Toocle.cn of NetSun has announced that its joint venture co-founded with China Telecom has been formally established in Hangzhou.

The joint venture, which aims to promote the technology development in China's rural areas, has completed its business registration. With initial investment of CNY10 million, the joint venture will focus on two tasks during the preliminary period of its operation. First, the company will launch a large scale recruitment to hire about 100 employees. The company has already completed the building of its executive team.

Second, Toocle.cn will cooperate with China Telecom to develop the joint venture's Internet platform, which is currently in a research and development stage, and the platform is expected to be launched in the next few months.

Sun Deliang, chairman of NetSun and the main promoter of this joint venture, said that the establishment of this joint venture is a specific implementation of its "small portal + alliance" development strategy and it will promote the development of NetSun's B2B professional website industry cluster and its comprehensive B2B e-commerce website Toocle.cn.