BEIJING, April 19, 2011 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp. (NASDAQ: CTFO) ("China TransInfo" or the "Company"), a leading provider of comprehensive intelligent transportation solutions and traffic information services in China through its affiliate, China TransInfo Technology Group Co., Ltd. (the "Group Company"), today announced that the Company has been recommended and serves as the Director-General of the Zhongguancun Intelligent Transportation Industry Association ("ZITIA" or the "Association"), which the Company played a key role in helping establish on April 13th, 2011.
ZITIA's current members include 36 corporations, nine research institutes, one financial organization and five universities. The objective of the Association is to help cultivate the intelligent transportation industry's development and position Beijing as the industry leading region in China for the intelligent transportation industry. ZITIA plans to promote pilot projects related commercial vehicle applications; accelerate core research and development and technology initiatives as well as improve members' R&D capabilities and branding; and to address the significant traffic problems in the Beijing region.
Mr. Gou Zhongwen, the Deputy Mayor of Beijing, attended the Association's launch ceremony. At the ceremony he expressed his appreciation regarding the establishment of ZITIA and his expectation that the Association could succeed in its efforts to address the significant traffic issues in Beijing.
"We are pleased to participate in the establishment of ZITIA," said Mr. Shudong Xia, Chairman and Chief Executive Officer of China TransInfo. "As one of the founding members and Director-General of ZITIA, we plan to lead by example, strengthening our R&D capabilities and contributing to the industry's development. Meanwhile, through the comprehensive network built and firm support provided by so many outstanding corporations, research institutes, universities as well as the government, I believe we can achieve great results."
About China TransInfo
China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing urban and highway transportation management solutions and information services. The Company is a leading transportation information products and comprehensive solutions provider, and aims to be the largest real time transportation information service provider and major commercial vehicles service provider in China. As the co-formulator of several transportation technology \national standards, the Company owns five patents and has won a majority of the model cases awarded by the PRC Ministry of Transportation. As a result, the Company is playing a key role in setting the standards for transportation information solutions in China. For more information, please visit the Company's website at http://www.chinatransinfo.com.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE China TransInfo Technology Corp.