From The International Herald:
Microsoft said on Wednesday that it would form a joint venture with Shanghai Alliance Investment and make its first acquisition in China to start an MSN Internet and mobile phone software business there.
The joint venture, Shanghai MSN Network Communications Technology, will deliver content and services, Microsoft said. Microsoft also said it planned to buy assets of a mobile software and service company, Shenzhen Municipality Tsinghua Shenxun Science & Technology Development, to deliver MSN products to mobile devices. Terms were not disclosed.