ICIS, the commodity market information business for the chemical and oil industry, and part of Reed Business Information UK Ltd, and CBI China Ltd, China''s domestic commodity market information leader, have formed a joint venture to create a new commodity market information company.

The ICIS and CBI China joint venture will deliver information on Chinese markets to a global audience involved in or monitoring commodities in this region. At the same time, the new company will offer global market intelligence to their Chinese customers. As part of this joint venture RBI has taken an equity stake in CBI.

"The alliance bolsters ICIS'' position as the world''s leading provider of market information on petrochemical markets," said Jim Muttram, RBI UK Managing Director. "It also provides RBI with a fantastic base upon which we can build our business in China."

Christopher Flook, publishing director, ICIS, said, "Chinese demand is driving world commodity markets. We hope that ICIS-CBI can facilitate that trade by delivering comprehensive international market data to local companies, and unparalleled China market information to international players. Our joint venture will encompass detailed coverage of oil products, gas and over 200 petrochemical markets in both English and Chinese, by email, web and SMS."

"Similarly, Chinese customers are calling out for accurate and, above all, trusted information on international commodity markets," Patrick Zhang, Chief Executive Officer, CBI China, added. "We are delighted to offer them the most reliable global market intelligence from ICIS, which complements the information they have come to rely upon from CBI."
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