(ECNS) – A new generic top-level domain (TLD) in Chinese came under the spotlight at the Internet Corporation for Assigned Names and Numbers (ICANN) meeting held in London last month, according to Xinhuanet.com.

The TLD ".wangzhi" (Internet in Chinese) was officially accepted as a member of the international domain name family in April, which is a big step for China in gaining more sovereignty over Web addresses.

Registration of domain names will open in the near future, which will bring more opportunities for Chinese companies, an industry expert said.

The expert explained that the unique and rare Chinese domain name would increase a registered company's intangible assets, and the first-come-first-served priority registration will offer a fair opportunity for Chinese companies to compete with foreign rivals and to enhance their brand awareness.

And experts at ICANN said they opened registrations for new TLDs to diversify the global domain names market, and suggested companies draw up new TLD plans to match their business development.