Tuesday, January 9, 2001
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Posted on: Tuesday, January 9, 2001

Local Net firm gains $2 million China job

Advertiser Staff

Local Internet firm RevaComm has landed a $2 million contract to design a Web site for Xinha Financial News, the newly revamped business news outlet for the Chinese government’s official news service.

The contract is worth $2 million, said RevaComm spokeswoman Cari Costanzo - nearly double the Honolulu company’s sales last year, which exceeded $1 million.

RevaComm will become part of an international effort to improve Xinhua Financial News.

The business news organization’s government-controlled parent, Xinhua News Agency, is one of the world’s largest news organizations. Xinhua started its financial arm in 1996, using it as a vehicle for official government pronouncements.

The service has struggled, however, because of "heavy overtones of propaganda and its failure to report on the political and policy issues surrounding many corporate events in China," according to the Far Eastern Economic Review.

In November 2000, Xinhua announced it would retool Xinhua Financial News, setting it up as a joint venture with American investors to provide more Western-style coverage.

RevaComm, a 10-year-old Hawaii company, has 30 employees.

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