Foreign acquisitions transform China’s Internet industry

Via the International Herald Tribune: Reuters reported that “a recent buying binge by some of the world’s leading Internet companies is rapidly changing China’s online landscape, driving local dot-coms to seek partners or risk being left behind.

Foreign companies including Yahoo, eBay, Google and InterActiveCorp, along with some of China’s major players, have spent nearly $1 billion on acquisitions in China’s Internet market in the past year. Despite local limitations, including strong official supervision of the Web, foreign players are attracted to an Internet market that has become the world’s second largest, with an estimated 87 million users. ”

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