LexisNexis Group, a world-leading provider of legal and business information, yesterday launched its Chinese language website by acquiring a well-known local counterpart.

"It is a major breakthrough for our business in China, where we have a long-term investment plan," said Andrew Prozes, LexisNexis' chief executive officer. "And through the website, we are determined to provide the latest legal information about China in Chinese."

According to Miyuki Suzuki, CEO of LexisNexis' Asia-Pacific Region, the new website - research.LexisNexis.com.cn - was set up after acquiring PRCinvestment.com on January 15.

She declined to comment on the amount of capital involved.

PRCinvestment is a Chinese language website known for financial and taxation information services.

"Our services in the early stages will focus on financial and taxation information, as PRCinvestment.com previously did, but gradually we will shift our focus to legal information," said Prozes.

The Canada-based company recently signed a deal with the State Information Centre (SIC) on providing legal information.

According to the agreement, LexisNexis, as an authorized partner of the SIC, will offer content services to chinalaw.net, a SIC-owned website.

Meanwhile, LexisNexis has agreed to offer its legal information, in English, to a website set up by Peking University. And LexisNexis will make available all information on the two Chinese websites, said Prozes.

"The market (of legal and business information) currently is very small in China," he said.

"But we believe that as China's economy grows, by 2050, the market size will be close to that of the US, which is estimated at about US$10 billion annually."

With a long history of delivering relevant legal information in local languages, LexisNexis has an edge in providing collective and comprehensive information, which its rivals in China, mostly local firms, are not so good at, according to Prozes.

Source: China Daily