SAN FRANCISCO: Yahoo! Inc and leading Chinese Internet portal SINA have agreed to form an auctions-based service for online buyers and sellers in China. The deal aims to marry SINA’s brand awareness in China and Yahoo’s proven expertise in e-commerce, according to a joint statement from the companies.
According to the China Internet Network Information Centre, the government-controlled regulator that manages Internet resources, there were 78 million Chinese Internet users as of last month. – AP
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