China’s Web Portals Open a Door to Risk (New York Times)

“Founded in the late 1990’s, the three companies embraced , online advertising and other revenue but failed to turn a until 2002, when they began to provide Internet content, for a fee, to users of ’s nearly 200 million cellphones. On their phones, cellular subscribers can receive sports , jokes or advice on their sex lives – and can even search for – all thanks to the . Each variety of service typically costs $3 a month, and each download costs an additional 3 cents, on average. ” However, some financial analysts warn that Chinese stocks are likely to fall sharply.

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