Hong Kong-based Beijing Development plans to invest HK$500 million from its cash reserves to build its smart card and underground railway IT system businesses in the capital and to expand to other cities, according to chinaknowledge.com.

The company has implemented a wide spread Smart Card scheme in Beijing and is negotiating with the supermarket, convenience store operators and fast-food stores, trying to sell its Smart Card payment system.

Beijing Development (HKEx Stock Code: 154) has established three business platforms of Smart Card, Information Technology and Xteam involving in the sectors of mass transit, smart card and education. Currently the company is responsible for the smart card program of Beijing Municipal transportation. Since 10 May 2006, it has been comprehensively implemented in three main systems of subway, buses and taxi. The Beijing subway associated programs under its construction, such as AFC and ACC, are also put into operation.

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