September 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Jinan Yinquan Technology Co., Ltd., the wholly-owned subsidiary of China VoIP & Digital Telecom (OTCBB: CVDT), said that it has signed an agreement with Li Jian and Li Kunwu, chairman and CEO of CVDT, to form Shandong Yinquan Investment Holding Ltd.

According to China VoIP, the newly created company with registered capital of RMB 48 million will establish a cloud computing science park. Yinquan Technology will invest RMB 13 million in the holding company.

Shandong Yinquan Investment Holding will establish China Cloud Computing Science Park in Shandong province. It will be located in Wending City's Nanhai New Areas where the company said it has obtained roughly 50 acres of land for the technology park.

China VoIP said that the project has received government support and will enjoy a series of land and tax incentives.

The project calls for building 6,000 square meters of data centers, which will provide both disaster recovery and data backup services to enterprises, institutions and government agencies.

It will also establish 70,000 square meters of business incubation areas to attract domestic and foreign enterprises. The project will also create a 30,000 square meter laboratory for a cloud computing and virtualization support platform.

The lab will be the venue for partnership and cooperation with Tsinghua and Shandong University as well as VMware, Vizioncore and other internationally renowned manufacturers.

Shandong Yinquan Investment Holding will also invest in a 50,000 square-meter national cloud computing and virtualization technology center for professional education and training.

China-based China VoIP & Digital Telecom offers virtualization technology application in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co., Ltd and Beijing PowerUnique Technologies, Co., Ltd.

The company is currently marketing its integral virtualization solutions and services in China.

Virtualization Technology is a software technology that makes it possible to run multiple operating systems and multiple applications on the same computer at the same time, increasing the utilization and flexibility of hardware.

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