Huicong announced this week that it will soon launch an English-language transaction platform to put Chinese exporters and overseas buyers in touch with each other.
Huicong's CEO Guo Fansheng has told the local media that his company completed the construction of relevant technical parts of the new English website and is waiting for a proper time to launch it, but he refused to disclose the detailed schedule.
He also added that Huicong will provide the service on the new site for free at the initial stage in order to attract more users. Rival Alibaba also announced this week that its online platform will remain free for at least the next three years.
In the current Chinese online trading market, Huicong is mainly engaged in domestic trade, while Alibaba in foreign trade. Huicong will soon be competing directly with Alibaba in the next sector.