Tsinghua Tongfang and ASK, an advanced French e-ticket and card marker, have arranged a new a new joint venture called Beijing Yashi Tongfang Technology Company.
The new company is expected to play a leading role in China's RFID industry by yielding up to 200 million e-tags annually.
Tsinghua Tongfang issued a release saying the two companies will also work to promote China's RFID industry development, which has seen some uncertainty recently as many large Chinese companies have backed out of using RFID.
Tsinghua Tongfang had already has set up an extensive sales network and accumulated experience in the field of RFID sales prior ro the deal with ASK.
Tsinghua Tongfang says it also conducted a long-term market survey and complete due diligence before it finally selected ASK as its partner on RFID.
