The President and CEO of Los Angeles based AIM Group, Mr. Frank Mayor, and President and CEO of Los Angeles based PanPacific Ventures, Inc., Mr. Peter Jansson, have officially announced the formation of CRC JIANIAN CULTURAL DEVELOPMENT CO. LTD., a newly created joint venture partnership between AIM Group, LLC, PanPacific Ventures, Inc. and China Record Corporation (CRC), the oldest and largest government-owned record label in mainland China. The joint venture is being funded by AIM Group and will have offices in Los Angeles and Beijing, as well as representation in four other major Chinese cities including Shanghai.

CRC Jianian owns the exclusive worldwide rights to publish and distribute the music of China, which includes CRC’s 60,000-title catalog of traditional Chinese ethnic and folk music. The company’s business model incorporates film, television and music productions in China, including new artist development, and will subsequently lead to the creation of a stable and viable distribution network within the mainland. In addition, the company will utilize its close relationship with the Beijing Olympic Committee and other Chinese governmental entities in presenting premiere musical and cultural events during the 2008 Olympic Games to be held in Beijing.

CRC Jianian is the charter Publisher member of China’s Performing and Mechanical Rights Society, MCSC (Music Copyright Society of China) and is perfectly situated to help guide and shape the Chinese music industry towards establishing a standard set by other leading societies around the world, ultimately building a strategic and globally-recognized infrastructure within mainland China. As the only Publisher member of MCSC to date, CRC Jianian has the unique opportunity to represent and sub-publish any and all music catalogs from around the world and the ability to collect all types of copyright royalties effectively, efficiently and legitimately within mainland China.