Baidu-Rakuten JV to Establish in Tongzhou
Sina Tech, 4/22/10
On April 23, Chinese internet company Baidu (Nasdaq: BIDU) will establish its joint venture with Japanese online shopping company Rakuten in the Tongzhou area of eastern Beijing, with Rakuten executive officer Koichi Nakamura heading up the new JV. The organizational framework for the new Baidu-Rakuten JV has essentially taken shape: employees will come from Baidu, Rakuten, and public recruitments, and the site is slated to launch in July.
Xu Yang, Baidu's VP in charge of business development, revealed that Tongzhou - rather than the Zhongguancun area of northwestern Beijing where Baidu and many other technology companies are headquartered - had been chosen as the location for the new company because of the local government's preferential policies. The Tongzhou district government is currently researching interim regulations for promoting e-commerce industry development, and is providing support to B2B, B2C, and third-party e-commerce companies setting up shop in the region through a range of means, including tax breaks on land and offices, financial support, and staffing support.
Keywords: Koichi Nakamura Xu Yang B2B e-commerce Internet B2C Baidu JV Rakuten BIDU
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