The Beijing Guardian Online E-commerce Co. announced recently that China's Guardian Online Auction Web site has reached an agreement to buy all of Clubciti, a large consumer-to-consumer Chinese auction Web site with almost 400,000 registered customers. The Guardian Online Auction Web site also will reorganize Clubciti thoroughly, the June 26 Huasheng Bao (Hua Sheng Overseas Chinese Newspaper) reported. In May, the China Guardian International Auctions Co., which wholly owns Guardian Online, announced that Hong Kong Telecom and Softbank China had become shareholders of China Guardian and that they will jointly develop online auction operations.