Chinese software provider UFIDA Software Company Limited has published a report stating that its net profit for 2011 is expected to increase by between 40% and 80% year-on-year.

The China International Electronic Commerce Center, an affiliate of China's Ministry of Commerce, is now using the CDC TradeBeam global trade management software-as-a-service solution for the China Free Trade Area Service Network.

Chinese financial services software firm Longtop Financial Technologies Limited announced its unaudited financial results for the quarter ended June 30, 2010, which is the first quarter of its fiscal year ending March 31, 2011.

Cloud computing has received a boost as the southern Chinese city of Foshan initiates a new program to expand its own services.

Chinese software maker UFIDA and the international technology company IBM have announced in Beijing that the two parties will jointly establish a cloud computing lab.

Initiated by Taiwan's Industrial Technology Research Institute, Taiwan Electrical and Electronic Manufacturers' Association, and Taiwan Information Service Industry Association, and joined by 50 Taiwanese communications service enterprises, the Taiwan Cloud Computing Consortium has been established to improve Taiwan's competitiveness in the global cloud computing market.

Initiated by 50 Chinese information technology companies, including CCW Research, Babaike (Beijing) Software Technologies, and UFIDA Software, the Cloud Computing Committee has been set up in Beijing and a proposal for promoting the healthy development of China's software-as-a-service and cloud computing industries has been published at the same time.

Chinese leading PC maker Lenovo has launched its first Internet software product, Idealife, to tap the Internet service sector.

Microsoft (MSFT) China has announced the formal opening of FW086.com, the "Software as a Service" service platform jointly established with Suzhou Industrial Park, Microsoft and Jiangsu-based Fengyun Network Services.

One Network, an American supply chain management software provider, has announced its formal entry into the Chinese market.