Xinhua purchases new domain name to compete for search engine market

09:46, August 18, 2010      

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The Xinhua News Agency has purchased the domain names and with the intent of launching its own search engine to enter the search engine market by the end of this year, according to media reports Tuesday, citing sources close to the deal.

  Xinhua has long been striving for the search business. As early as 2008, it launched the, but did not have a very shining performance. Last week, it signed an agreement with China Mobile (CM), the world's largest mobile phone operator, to set up a mobile search engine to compete for the market share in the internet market.

  Xinhua purchased the two domain names after its counterpart, People's Daily launched the search engine in June this year.

  Media reports said that State-owned companies have stepped up efforts to enter various fields of the internet. Li Zhi, analyst from Analysys International, said that the strategic significance of State-owned firms is larger than the business prospects.

  He also said that compared with the internet search market, the mobile search market can provide new comers with more opportunities since it started not long ago and has not been monopolized by a certain company.

  Also, as Stated-owned firms power into the search engine market, the country's search engine giant Baidu will face more challenges. Inc., China's second-largest internet portal and Alibaba Group, China's biggest e-commerce firm, announced to cooperate on the building of China's second largest search engine, which also poses challenges to Baidu.

Source: Global Times


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