BBX Holdings Limited (BBX) announced that its BBX franchise in China, ‘BBX China’, has commenced trading which is expected to create a significant volume of cross-country barter trade.

BBX, a cashless trade exchange, has offices and/or franchises throughout Australia and New Zealand, with 6,000 member businesses and over 8,000 individual card holders. Member businesses in these two countries traded in excess of $188 million in the financial year ending 30 June 2007, averaging over $33,000 per active member business.

The BBX China franchise is expected to bring the number of BBX members globally to 300,000. Franchises have also been established in India and Costa Rica, with other international franchises currently under negotiation.

BBX China consists of 18 regional offices with its main office in Beijing and when fully established will employ over 1500 staff. BBX China was formed in 2006 when the China Federation of Logistics and Purchasing Barter Trade Committee entered into a Master Franchise agreement with BBX International, a wholly owned subsidiary of BBX Holdings Limited which will have 20 per cent equity in BBX China.

CEO of BBX China, Mr Wang Lei says BBX China is proud to open its doors to International trade through the BBX network.

Members of BBX China cover a number of industries including production, real estate, tourism, entertainment, hospitality, services and retail.

“BBX China is a critical step in establishing a global trading platform and will revolutionise the way business is conducted by our members. The expanding international network is a benefit to BBX members everywhere because it means they have increased buying and selling opportunities as members of a global trading alliance,” said BBX Managing Director Michael Touma.

BBX international trading is made possible by its own self developed cashless settlement platform, WEBiPOS. This sophisticated software provides instant processing of transactions online and is available to BBX members worldwide in English, Spanish and Chinese.

“BBX opens the door for easier global trading and with a market as bid and diverse as China, the opportunities for BBX members are endless,” Mr Touma added. “For instance, an Australian wine producer could sell their wine to a restaurant in China and then use those BBX dollars to import equipment from China, or India or even trade locally in Australia for the products they need for their business.

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This entry was posted on Thursday, May 8th, 2008 at 1:41 pm and is filed under From The Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.