Global Insight buying into China

US information provider Global Insight is buying a "substantial portion" of the China Economic Information Network (CEInet) according to the China Daily. Global Insight's chairman and chief executive Joseph E. Kasputys is quoted by the newspaper as saying "Yes we have agreed in principle to co-operate with CEInet". It adds that the deal is awaiting government approval.

CEInet was established in 1996 by the State Information Centre and provides economic information on China. Global Insight, a private company, was formed through the merger of DRI and WEFA.

Back in September, Global Insight had announced an expansion of the presence of its automotive group in China. At the time, Kasputys said "The Asian region has become an increasingly important part of our overall business, and the establishment of local Automotive Group operations in Japan and China is therefore a logical next step in our strategy to further exploit the significant growth potential offered by these and other Asian markets."