Aug 19, 2011
According to a source within China's Ministry of Industry and Information Technology (MIIT), relevant MIIT departments have drafted new regulations for the online search industry, including restrictions that would affect Chinese internet company Baidu's (Nasdaq: BIDU) paid search rankings.
China's national broadcaster CCTV's finance channel CCTV-2 broadcast another report on Baidu yesterday, interviewing a number of industry experts including ones who said that Baidu's paid search rankings business raised legal and ethical questions, and that paid search advertising should be made illegal.
Shanghai-based steel industry B2B e-commerce platform operator Ganglian E-Commerce (MySteel.com) (300226.SZ) has announced plans to increase its investment in the company's e-commerce subsidiary Shanghai Gangyin E-Commerce Co. Ltd. Through Ganglian E-Commerce's RMB 85 mln investment and investment from six other companies, total registered capital attributable to Gangyin E-Commerce will increase from RMB 5 mln to RMB 150 mln.
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