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FreeMarkets opens Hong Kong office as greater China base

Published on .

Pittsburgh--In its latest expansion into the Asia-Pacific region, b-to-b auctioneer FreeMarkets Inc. has opened Hong Kong offices. The offices will serve as FreeMarkets' base of operations for the greater China market, which includes Hong Kong, China and Taiwan. The company's move underscores its ongoing aggressive penetration into Asia. It has also signed recent b-to-b development deals with Bangkok-based Nestle Thailand Ltd. and Tokyo-based Mitsubishi Corp. FreeMarkets and other b-to-b exchange enablers, such as Oracle Corp., are entering the Chinese market at a rapid clip. China recently surpassed the U.K. as the second-largest recipient of foreign investment, after the U.S.
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